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First Draw PPP Loans $2 Million and Up and the PPP Necessity Questionnaires - Update | Schwabe, Williamson & Wyatt PC

To embed, copy and paste the code into your website or blog: Starting around October 26, 2020, the Small Business Administrations (the “SBA”) asked Paycheck Protection Program (“PPP”) lenders to provide certain questionnaires to PPP borrowers with loans of $2 million or greater. There are two questionnaire forms on the Treasury: Form 3509 for for-profit borrowers and Form 3510 for non-profit borrowers. On December 9, 2020, the SBA released FAQ 53, which provides some clarifications on the questionnaire (the “FAQ #53”). Update: Starting in March 2021, we saw borrowers with loans of $2 million or greater starting to receive requests for additional materials (such as the maintained documents) or being informed by their lenders that they were under “SBA review.” Also, in March, April, and May 2021, we saw several lenders (and perhaps the SBA) stop processing forgiveness applications while they were working on new First Draw and Second Draw PPP Loans. In late May, the le

Risk Markets Technology Awards 2021: Market liquidity risk product

Risk.net 02 Feb 2021 Brad Foster, Bloomberg Building a framework to assess market liquidity requires a data-driven approach to ensure all liquidity risk metrics are observable and marked to market. Bloomberg’s Liquidity Assessment (LQA) solution incorporates daily market data, allowing its models to quickly react to changing market conditions. Users can also customise the models to suit their individual use cases and define their own stress scenarios. LQA provides a consistent framework that captures the dynamics of different asset classes to support a consolidated view of liquidity at the portfolio level. For the many securities where visible markets may be sporadic at best, LQA’s data-driven model estimates execution measures, such as market depth, expected liquidation cost and time-to-liquidate. 

SBA Formally Releases Loan Necessity Questionnaire | Berdon LLP

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