COVID-19: New SBA Forms Asking Key Necessity and Liquidity Questions

Borrowers of Paycheck Protection Program (PPP) loans of US$2M or more will be required to complete a new form as part of the Small Business Administration (SBA) review process, which appears to ask key questions about private equity (PE) ownership, market capitalization, quarterly revenue, and COVID-related business impacts that happened after the PPP loan application, and this unhappy question for many of our clients: “On the date of Borrower’s PPP loan application, was 20 percent or more of...
By: K&L Gates LLP

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