The Small Business Administration (SBA) recently released two liquidity questionnaires regarding the Paycheck Protection Program (PPP) loans. One questionnaire relates to for-profit PPP borrowers and the other one relates to non-profit borrowers. These forms are directed toward borrowers with loans in excess of $2 million.
These forms ask for various facts and documentation that will be required in regard to its liquidity analysis. Thus these questionnaires will provide answers as to what qualifies as a “current economic uncertainty” that makes the loan necessary in supporting the ongoing operations of the organization.
The questionnaires are for SBA lenders to transmit to certain PPP for-profit (Form 3509) and non-profit (Form 3510) borrowers. At this time, the forms are not available on the SBA website. Many of these questionnaires have been distributed to some PPP borrowers from their lenders.
Here is the link to get the latest PPP Loan Forgiveness Application from the SBA.
For more information, visit our COVID-19 tax and business matter page.