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First Draw Loans at or Over $2 million—SBA Discontinues Use of Necessity Questionnaires and What Is Next | Schwabe, Williamson & Wyatt PC

First Draw Loans at or Over $2 million—SBA Discontinues Use of Necessity Questionnaires and What Is Next | Schwabe, Williamson & Wyatt PC
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SBA PPP loan forgiveness form withdrawn after controversy

SBA PPP loan forgiveness form withdrawn after controversy
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SBA officially drops PPP Loan Necessity Questionnaire requirement

SBA officially drops PPP Loan Necessity Questionnaire requirement
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SBA Issues Updated PPP FAQ And Clarifies Interplay Between The Necessity Certification And 25% Revenue Reduction Test For Second Draw Loans - Finance and Banking

To print this article, all you need is to be registered or login on Mondaq.com. Borrowers seeking to apply for First Draw Paycheck Protection Program (PPP) loans or Second Draw (PPP2) loans are required to certify on loan applications that current economic uncertainty makes this loan request necessary to support the ongoing operations of the borrower or applicant. That necessity certification as it has come to be known, is riddled with amorphous language that has proven to be a source of confusion and ambiguity for borrowers from its inception. The SBA initially offered vague, interpretive guidance to public and

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SBA Issues Updated PPP FAQ and Clarifies Interplay between the Necessity Certification and 25% Revenue Reduction Test for Second Draw Loans | Hodgson Russ LLP

SBA Issues Updated PPP FAQ and Clarifies Interplay between the Necessity Certification and 25% Revenue Reduction Test for Second Draw Loans | Hodgson Russ LLP
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