The SBA has informed lenders that Loan Necessity Questionnaires (Forms 3509 and 3510) are no longer required to be submitted by Paycheck Protection Program (PPP) borrowers. Borrowers who have already been asked to complete the questionnaire don’t need to submit the form. However, they still need support for certifications related to the necessity of the PPP loan request.
OMA Connections Partner CliftonLarsonAllen has published this summary of the latest PPP developments. 7/21/2021