Rich May (Massachusetts): SBA announces safe harbor for PPP borrowers receiving less than $2 million

FIRST PUBLISHED ON 05.14.2020 – On May 13, 2020, the SBA released an updated FAQ on the Paycheck Protection Program, providing that borrowers receiving less than $2 million will be deemed to have certified in good faith that “[c]urrent economic uncertainty makes this loan request necessary to support the ongoing operations of the Applicant.”  MORE.