Published Sun Jun 27 2021 viewed 190 times.
c. Can lenders rely on borrower documentation for loan forgiveness? PPP III. Temporary New Business Loan Program: Paycheck Protection Program. Can lenders rely on borrower documentation for loan forgiveness?
Buy Murray Wennerlund at TruckAndTools.Com a coffee to fuel research efforts!
PPP III. Temporary New Business Loan Program: Paycheck Protection Program
Effective Date: This rule is effective April 14, 2020.
c. Can lenders rely on borrower documentation for loan forgiveness?
Yes. The lender does not need to conduct any verification if the borrower submits documentation supporting its request for loan forgiveness and attests that it has accurately verified the payments for eligible costs. The Administrator will hold harmless any lender that relies on such borrower documents and attestation from a borrower. The Administrator, in consultation with the Secretary, has determined that lender reliance on a borrower's required documents and attestation is necessary and appropriate in light of section 1106(h) of the Act, which prohibits the Administrator from taking an enforcement action or imposing penalties if the lender has received a borrower attestation.
Reference Resource: SBA-2020-0015-0001
Comment Date: Comments must be received on or before May 15, 2020.
Share, Support, Contribute.
Published Mon May 17 2021 viewed 248 times.
Published Thu May 13 2021 viewed 1.1K times.
Published Sun May 2 2021
Published Thu Apr 23 2020
Published Sun Apr 25 2021
Results of a Perfect Project. From one generation to the next, we know if your project is designed perfectly you will have perfect results no matter if it's 1928, 1995 or 2021.
- Sun. Jun. 27, 2021
- Mon. May. 17, 2021