The Small Business Administration issued additional guidance regarding the required good faith certification of need by borrowers under the Paycheck Protection Program, providing safe harbor to all recipients of less than $2 million in loan proceeds.

The guidance also addresses ramifications for borrowers of more than $2 million that are determined to have lacked an adequate basis for their certification.

https://www.foxrothschild.com/publications/sba-issues-long-awaited-guidance-on-need-certification-for-ppp-loans/