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Extension and Revision of SBA Guidance on Guaranty Purchases and Lender Servicing Responsibilities for PPP Loans
SBA Procedural Notice 5000-835955 extends and revises the guidance provided in SBA Procedural Notice 5000-812316, “SBA Guaranty Purchases and Lender Servicing Responsibilities for PPP Loans” (“First PPP Guaranty Purchase Notice”). Additionally, this Notice provides supplemental guidance to PPP Lenders (“Lenders”) on their servicing responsibilities and announces revisions to the guaranty purchase process for SBA to honor its guaranty.
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