Business Considerations to Certify the Necessity of PPP Funds for Ongoing Operations

Recent public outcries about publicly traded companies receiving Paycheck Protection Program (PPP) loans have pressured the Small Business Administration (SBA) into issuing an FAQ that stresses how important it is for a borrower to certify that the loan is truly needed and that its “[c]urrent economic uncertainty makes this loan request necessary to support the ongoing operations of the Applicant.”