Joint Statement by Secretary Steven T. Mnuchin and Administrator Jovita Carranza on the Review Procedure for Paycheck Protection Program Loans
… reevaluated their need for PPP loans and promptly repaid loan funds in response to SBA guidance reminding all … of an important certification required to obtain a PPP loan. To further ensure PPP loans are limited to eligible … following the lender’s submission of the borrower’s loan forgiveness application. Regulatory guidance …