JD Supra

First Draw Loans at or Over $2 million—SBA Discontinues Use of Necessity Questionnaires and What Is Next - Update

As per our earlier articles, in late 2020, the SBA began requiring borrowers with First Draw PPP loans $2 million or greater to complete a PPP Loan Necessity Questionnaire (Form 3509 (For Profit ...
JD Supra

Paycheck Protection Program: SBA Issues Guidance on First Draw and Second Draw PPP Loans and Releases PPP Applications Pursuant to the Economic Aid Act

On January 6, 2020, the SBA published its 26 th Interim Final Rule (the First Draw PPP IFR) and 27 th Interim Final Rule (the Second Draw PPP IFR)[1] with respect to the Paycheck Protection Program ...
Inc

SBA to Drop Its Review of PPP Loans of $2 Million and Above

Applying for Paycheck Protection Program loan forgiveness is about to get easier for bigger borrowers. After months of requiring financial documentation proving need from borrowers with PPP loans of ...