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#2234737 - 04/14/20 12:39 PM PPP Loans and 20% Beneficial Ownership?
NU Rhules Offline
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NU Rhules
Joined: Mar 2011
Posts: 473
SE, Nebraska
Can anyone tell me where the 20% trip figure came from? Or can anyone tell me why it is different than the basic rule of 25%? See Question #2.
See FinCEN FAQ below.

https://www.fincen.gov/sites/default/files/2020-04/Paycheck_Protection_Program_FAQs.pdf

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Lending Compliance
#2234743 - 04/14/20 01:26 PM Re: PPP Loans and 20% Beneficial Ownership? NU Rhules
rlcarey Offline
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rlcarey
Joined: Jul 2001
Posts: 83,371
Galveston, TX
It is what has to go on the PPP loan application.
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The opinions expressed here should not be construed to be those of my employer: PPDocs.com

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#2234844 - 04/15/20 03:27 PM Re: PPP Loans and 20% Beneficial Ownership? NU Rhules
John Burnett Offline
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John Burnett
Joined: Oct 2000
Posts: 40,086
Cape Cod
It is an SBA requirement.
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John S. Burnett
BankersOnline.com
Fighting for Compliance since 1976
Bankers' Threads User #8

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