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SBA Now Accepting Requests for Loan Reviews from PPP Borrowers

SBA Now Accepting Requests for Loan Reviews from PPP Borrowers

Posted: Aug 03 2022
SBA Now Accepting Requests for Loan Reviews from PPP Borrowers

The SBA recently announced that it is now accepting requests from Paycheck Protection Program (PPP) borrowers for SBA to conduct a review of a lender’s forgiveness decision when the lender provided only partial forgiveness of the loan.

SBA issued a procedural notice in January stating that the agency will allow borrowers to request an SBA loan review of partial approval forgiveness decisions issued by the borrower’s PPP lender.  A borrower may submit these requests to SBA through the borrower’s PPP lender.  The announcement also notes that the agency will conduct a manual review of all forgiveness decisions where the lender did not forgive any amount of the PPP loan.  No action is required by lenders until contacted by SBA.
 
To read the January procedural notice, visit: https://www.sba.gov/sites/default/files/2022-02/SBA%20Loan%20Reviews%20of%20PPP%20Lender%20Partial%20Approval%20Forgiveness%20Decisions%20Procedural%20Notice%205000-827666-508.pdf
 

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