Emerging Markets Law

Showing 2 posts from November 2020.

SBA Certification Questionnaire for PPP Borrowers

Posted In Coronavirus

Coronavirus

On October 26, 2020, the Small Business Administration (SBA) issued a Notice in the Federal Register seeking approval from the Office of Management and Budget (OMB) to collect information about PPP borrowers who received a PPP loan in excess of $2 million. The Notice states collection of information by the SBA would be done through the requirement that those certain PPP Borrowers complete a questionnaire (note: there is one for for-profit entities and one for non-profit entities). The Notice provides for a comment period of 30 days; meaning the published form questionnaires constitute drafts that may change to reflect comments submitted during the comment period. 

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