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PPP FAQ updated again
The Treasury/SBA FAQ document for PPP loans was updated yesterday. Two changes addressed lender concerns in additions to the FAQ:
- Question 19: SBA clarified that lenders may use their own note or an SBA form. The agency has released its own form, but it may be revised to address industry feedback to meet lenders’ operational needs.
- Question 20: The lender must make the first disbursement of the loan no later than 10 calendar days after the loan is approved.