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News regarding Banks and the “Need” for Forgiveness – 5/12 1:20 PM

People are concerned about demonstrating their “need” for the PPP Loan they applied for, and here are two things of current interest.

  1. We just heard from a member that their bank has told them they are going to audit the application they submitted for their PPP Loan.  This may be a one-of, or perhaps a straw in the wind for how banks are going to react.
  2. See the article Handling Concerns About PPP Loan Necessity for a suggested approach to the issue.