SBA to Withdraw Loan Necessity Questionnaire
Post date
June 25, 2021
Body
The Small Business Administration (SBA) intends to withdraw the “Loan Necessity Questionnaire” that has heavily burdened and delayed all applications for forgiveness of Paycheck Protection Program (PPP) loans of $2 million or more. AGC sued SBA last December for developing the form entirely in secret, and without public input, and for using the form to change the de facto requirements for the forgiveness of such loans.
This is excellent news for the thousands of AGC members who accepted such loans in good faith in order to keep their people working.