SBA Formally Releases Loan Necessity Questionnaire
By EsqSocial Corporation 22/12/20
Previously released as a draft and the cause of some controversy, the Small Business Administration (SBA) has formally adopted and released Form 3509, which is a Paycheck Protection Program (PPP) loan necessity questionnaire for for-profit borrowers. Form 3509 applies only to borrowers, who, together with affiliates, received PPP loans of $2 million or greater. The purpose of the form is to facilitate the collection of supplemental information so that SBA loan reviewers can evaluate the...
By: Berdon LLP