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Frequently Asked Questions

We have compiled a list of the most frequently asked questions regarding the CARES Act Paycheck Protection Program (PPP). Below are just a few of the topics covered, to review these questions and our answers in depth, visit: caresact_pppfaqs

  • Loan Eligibility
  • Who Can Qualify As A Lender
  • How & When To Apply For Loans
  • How The Loan May Be Used & What Is the Maximum Size
  • Loan Forgiveness & Deferment
  • Loan Maturity, Guarantee & Interest Rates
  • Prepayment Penalties, Collateral & Fees
  • Credit Requirements
  • Existing SBA Loan Refinance
  • Can A Bank Itself, Or Bank Directors & Other Insiders Obtain PPP Loans?
  • How & When A Bank Will Be Compensated & Reimbursed For A PPP Loan
  • Who Can Be An Agent For A PPP Loan
  • Can a Bank Sell a PPP Loan?

We Can Help You

We have been on the forefront of dealing with COVID-19 (coronavirus) for our clients. Please contact us if you would like to discuss any of these issues or if we can otherwise be of assistance.

COVID-19 Resources

We recommend reviewing the following pandemic-related business and legal considerations we have been discussing with our clients:

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