PPP borrowers may request reviews of partial forgiveness decisions

Paycheck Protection Program borrowers may request an SBA loan review of partial forgiveness decisions issued by their PPP lenders, according to a recent SBA procedural notice.

Details: Under the procedural notice:

  • When a lender receives a forgiveness remittance from SBA on a PPP loan for which only a portion was forgiven, the lender must inform the borrower that it has 30 calendar days to seek an SBA loan review of the lender’s partial approval decision.

  • By Feb. 26, lenders must notify all borrowers with loans that received a partial forgiveness decision that they have 30 days to seek the review through their lender.

  • SBA retains discretion to accept or deny the borrower’s request to review the loan.

  • If SBA selects the loan for review, the loan is not deferred and the borrower must continue to make payments on the remaining balance of the loan.

More: SBA also said it will provide lenders with additional guidance through the PPP platform, including step-by-step instructions.