Questions Raised by the PPP Loan Necessity Questionnaire
By EsqSocial Corporation 05/11/20
Under the Paycheck Protection Program ("PPP"), borrowers who received a PPP loan in excess of $2 million, whether from a single loan or the combined total of loans from the borrowers' affiliates, have known for a while that their loans would receive increased attention from the Small Business Administration ("SBA"). In late April, the SBA announced that it will review all PPP loans in excess of $2 million. In May, the SBA provided a safe harbor that automatically deems borrowers'...
By: Ward and Smith, P.A.