The Anticipated SBA PPP Information Collection Efforts; What the SBA is Proposing for Borrowers and Implications of the Response

Join us on Thursday, November 19, 2020 at 2 pm EST for a discussion of recent developments with respect to the Small Business Administration’s Paycheck Protection Program. As our recent alert addressed, the SBA appears poised to begin a substantial information collection effort focused on the loan necessity certification of PPP borrowers that, together with their affiliates, received PPP loans with an original principal amount of $2 million or greater.

We will address the specifics of information being sought and documents that borrowers should consider maintaining to support other aspects of their application or use of the loan. We will also cover the risks that borrowers face as they provide additional information to the SBA—ranging from loan cancellation and rejection of the forgiveness application to False Claims Act liability and potential release of proprietary information.