Since the CARES Act’s Paycheck Protection Program (PPP) launched in early April, some borrowers, including nonprofit organizations, have experienced substantial scrutiny regarding their financial qualifications for PPP forgivable loans.
Under the CARES Act, all eligible recipients must “make a good faith certification†that, among other things, the uncertainty of current economic conditions due to the COVID-19 pandemic makes their respective loan request necessary to support their ongoing operations.
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