The Small Business Administration (SBA) intends to withdraw the “Loan Necessity Questionnaire” that has heavily burdened and delayed all applications for forgiveness of Paycheck Protection Program (PPP) loans of $2 million or more. ϲʿԤ sued SBA last December for developing the form entirely in secret, and without public input, and for using the form to change the de facto requirements for the forgiveness of such loans. During lawsuit settlement negotiations, ϲʿԤ learned of SBA’s decision to withdraw the questionnaire. Recently, ϲʿԤ has also received an exceptionally large number of reports about SBA approving these loans for forgiveness. This is excellent news for the thousands of ϲʿԤ members who accepted such loans in good faith in order to keep their people working.
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