SBA May Be Dropping PPP Loan Necessity Questionnaire Requirement

Denise Gillin News

By Jeff Drew for JournalOfAccountancy.com

The Associated General Contractors of America (AGC) said that the U.S. Small Business Administration (SBA) is in the process of removing the requirement that Paycheck Protection Program (PPP) borrowers submit a Loan Necessity Questionnaire when applying for forgiveness on loans of $2 million or more.

A lender notice from an SBA district office also indicates that at least one version of the questionnaire is no longer required, but an SBA spokesperson said the agency had no comment on whether the questionnaire has been withdrawn.

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