News & Advocacy Alerts: Advocacy Alerts

PPP Safe Harbor Deadline May 14, 2020 – Updated SBA Guidance on Necessity of Loan

Wednesday, May 13, 2020  
Posted by: Ann Lupo

SBA published new guidance today in FAQ #46:

  • How will SBA review borrowers’ required good-faith certification concerning the necessity of their loan request?

The safe harbor repayment date was extended to May 14, 2020, in FAQ #43.

View the SBA PPP FAQs for details on the Safe Harbor and the Necessity Guidance 

We've kept this alert necessarily brief, however, we strongly encourage you to carefully review all sections of the FAQs to better understand the possible implications for your clients/business.

Questions about the content of this Alert should be directed to LCPA State Government Relations Director Linda Babin.