CARES Act: SBA Issues Procedural Notice for PPP Lender Processing Fee Payment and SBA Form 1502 Lender Reporting Process | Practical Law
The Small Business Administration (SBA) issued a procedural notice (Notice) informing Paycheck Protection Program (PPP) lenders of the reporting process for disbursements, cancellations and terminations of PPP loans. It also outlines the procedure for collecting the processing fee on fully disbursed loans that they are eligible to receive.