SBA Issues Procedural Notice on Paycheck Protection Program (PPP) Loan Servicing Responsibilities and PPP Guaranty Purchase Process for PPP Lenders | Practical Law
The Small Business Administration (SBA) issued a procedural notice to remind Paycheck Protection Program (PPP) lenders of their PPP loan servicing responsibilities. It also advised PPP lenders of the guaranty purchase process for the SBA to honor its 100% guaranty on a PPP loan.