Demystifying the CARES Act Webinar - April 3, 2020 CARES Act Webinar – BD 4.3.2020 | Page 40

PPP LOAN
LENDERS
Lenders: SBA will allow lenders to rely on
certifications of the borrower in order to determine
eligibility of the borrower and use of loan
proceeds and to rely on specified documents
provided by the borrower to determine qualifying
loan amount and eligibility for loan
forgiveness. Lenders must comply with the
applicable lender obligations set forth in this
interim final rule, but will be held harmless for
borrowers’ failure to comply with program criteria;
remedies for borrower violations or fraud are
separately addressed in this interim final rule.
.
40