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Does new PPP loan guidance give borrowers a license to steal?

The SBA's assertion that it will not challenge the good-faith certification on loans under $2 million has sparked debate.

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The Treasury Department and Small Business Administration released updated guidance Wednesday stating that the SBA will deem all loans with original amounts under $2 million to be in good faith, meaning the loans won’t be challenged.

Debate is ensuing as to whether the guidance gives loan takers a license to steal or if it’s a fair “walking back” of the SBA and Treasury’s previous guidance.

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Melanie Waddell

Melanie is Washington Bureau Chief, Investment Advisory Group. She also covers regulatory and compliance issues. Her column, The Playing Field, appears in Investment Advisor and on ThinkAdvisor.com, and she also writes the briefing and produces the podcast, Human Capital. Earlier in her career, Melanie covered financial issues at American Banker/Thomson Media publications in Washington and New York. She also wrote freelance articles for Institutional Investor in New York. You can reach her at [email protected]. On twitter: @Think_MelanieW

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