The Small Business Administration (SBA) recently issued two versions of a new questionnaire (one for for-profit borrowers and one for nonprofit borrowers) to gauge necessity as part of its review and forgiveness determination process for PPP loans above $2 million.
RKL Consulting Partner Ryan Hurst taped a 26-minute video update to help PPP borrowers of $2 million and above understand what to expect. Watch below to learn:
- The purpose and layout of Forms 3509 and 3510
- How much time borrowers have to complete them
- What information borrowers will need to provide on the forms
- Ideas on how to best position your case for meeting these requirements
- Shortcomings with the forms and lack of a clear decision process
View the slides | View Form 3509 | View Form 3510
Contact your RKL advisor with specific questions around applicability to your organization’s PPP loan. Visit RKL’s Business Recovery Resource Center for more guidance and insights.