U.S. Says It Will Trust Small Business Owners When They Say They Need Loans

WASHINGTON—The Trump administration says it will presume borrowers have met the certification requirements for forgivable small-business loans under $2 million in the Paycheck Protection Program, in a move aimed at easing borrower fears that their loans won’t be forgiven.


The “safe harbor” announcement from the Small Business Administration Wednesday followed concerns by business owners’ about running afoul of the program’s rules, which have changed since the PPP opened for applications.

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SBA Changes PPP Loan Rules On August 24

On August 24th, the SBA issued the first guidance received since August 11th in new Interim Final Rules that provide limitations in just three areas for no particular reason, including with respect to

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