Public Description of Forms
SBA Form 3509, Loan Necessity Questionnaire (For-Profit Borrowers): All for-profit PPP borrowers that, together with their affiliates, received PPP loans with an original principal amount of $2 million or greater will be asked to submit additional information as part of the SBA loan review. SBA is reviewing these loans to maximize program integrity and protect taxpayer resources. The information and supporting documentation will be used to inform SBA’s review of the borrower’s good-faith certification that economic uncertainty made the PPP loan request necessary to support its ongoing operations. SBA may request additional information from the lender or the borrower, if necessary, to complete the review. SBA’s determination will be based on the totality of the borrower’s circumstances.
SBA Form 3510, Loan Necessity Questionnaire (Non-Profit Borrowers): All non-profit PPP borrowers that, together with their affiliates, received PPP loans with an original principal amount of $2 million or greater will be asked to submit additional information as part of the SBA loan review. SBA is reviewing these loans to maximize program integrity and protect taxpayer resources. The information and supporting documentation will be used to inform SBA’s review of the borrower’s good-faith certification that economic uncertainty made the PPP loan request necessary to support its ongoing operations. SBA may request additional information from the lender or the borrower, if necessary, to complete the review. SBA’s determination will be based on the totality of the borrower’s circumstances.
| File Type | application/vnd.openxmlformats-officedocument.wordprocessingml.document |
| Author | OGC |
| File Modified | 0000-00-00 |
| File Created | 2021-01-11 |