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Safe Harbor for PPP Loans Below $2 Million
By the FCA   
Thursday, 14 May 2020
Today marked the Safe Harbor Deadline by the Small Business Administration (SBA) to return PPP loans.  Just yesterday, May 13, 2020, the SBA issued additional guidance on how it will review borrowers’ required good-faith certification on the necessity of the PPP loan.  If you borrowed less than $2 million, you will be deemed to have made the required certification concerning the necessity of the loan request in good faith.  For more on this and other PPP loan topics, please see this excellent article by attorneys from the Baker Donelson firm.