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Paycheck Protection Program: Preparing for SBA Review of Your Forgiveness Application and Subsequent Denials, Appeals and Audits
June 24 @ 1:00 pm - 2:00 pm
The SBA has hired large third party consulting firms to conduct its promised review and audits of PPP loans. SBA notices seeking additional information from borrowers as a prelude to reviews of pending PPP Loan Forgiveness Applications have started. Forgiveness is not necessarily the end of the process, as even your forgiven PPP loan remains subject to SBA audit.
- Are you a high risk borrower ($2 million or more in PPP loan proceeds, public company, PE backed, foreign ownership, etc.)?
- Have you filed a Form 3509/3510 Loan Necessity Questionnaire?
- Have you received a follow-up information request from your PPP lender?
- Are you concerned that your Forgiveness Application may be denied in whole or in part?
- Are you at risk for a subsequent audit of your PPP loan?
If you answered yes to any of these questions, join us on June 24th at 1:00 p.m. EDT for an online discussion by Stout and Dykema of the actions you should be taking now to prepare to defend forgiveness of your PPP loan.