SBA outlines PPP appeals: A primer on navigating the process
Appeals of rulings by the Small Business Administration could add months to businesses’ efforts to see their Paycheck Protection Program loans forgiven.
The federal agency released this week an interim final rule that outlines the appeals process. Borrowers may turn to the appeals process if they want to dispute an SBA decision on their PPP loan. Those decisions could relate to eligibility for a loan, the loan amount, use of the proceeds or the forgiveness process.
The Business Journals spoke with Terry Hoover, a partner at accounting firm Wipfli LLP, to learn more about the latest guidance. Hoover said the PPP appeals process is modeled from the appeals options the SBA uses for other programs, but it creates a protocol specific to resolving disputes over PPP loans.
Source: Baltimore Business Journal