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Resources to Help SBA Lenders & Borrowers Navigate the PPP

By Njeri Mathu on Apr 6, 2020 11:45:00 AM

Signed into law on March 27, 2020, the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) includes a number of measures targeting small business relief, including the landmark $349 billion Paycheck Protection Program (PPP or Program). An addition to the SBA’s existing 7(a) loan program, the PPP is designed to help small businesses cover 8 weeks of payroll and certain other operational costs. Qualifying PPP loans are eligible for forgiveness and an SBA guarantee.

Topics: KYC/AML Compliance & Legal Fraud SBA