The AICPA is among 82 organizations that have signed onto a pair of letters expressing concerns about the new Paycheck Protection Program (PPP) Loan Necessity Questionnaires established by the U.S. Small Business Administration (SBA) and Treasury.
The questionnaires (SBA Forms 3509 and 3510) require PPP borrowers with loans of $2 million or more to complete a new form and provide extensive documentation supporting their request for relief funds.
The two letters sent to congressional leaders as well as Treasury Secretary Steven Mnuchin and SBA Administrator Jovita Carranza, recommend the agencies temporarily suspend the questionnaires while working to resolve the coalition’s concerns.