SBA Eliminates PPP Loan Necessity Questionnaire for Loans Over $2 Million
7/14/2021Articles & Podcasts
The Small Business Administration has announced that the Paycheck Protection Program Loan (PPP loan) Necessity Questionnaire is no longer required for loans of $2 million or more. These Necessity Questionnaires were first announced in November of 2020 and only applied to loans greater than $2 million.
Even though the Questionnaires are no longer required, it’s still important to keep all relevant documentation related to your PPP loan.