Paycheck Protection Program: SBA Stops Using Loan Needs Questionnaire | Vinson & Elkins LLP

The Small Business Administration (“SBA”) has officially stopped using the Loan Necessity Questionnaire previously required for the cancellation of Paycheck Protection Program (“PPP”) loans of $ 2 million or more. We described the questionnaire in a previous client alert. The stated purpose of the questionnaire was to collect additional information …

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