On 5/21/2020, the Small Business Administration (SBA) issued a procedural notice to inform Paycheck Protection Program (PPP) Lenders of the reporting process through with PPP Lenders will report on PPP loans and collect the processing fee on fully disbursed loans which they are eligible to receive. The 8-page document provides about 20 questions and answers for PPP lenders in regards to a number of topics such as their fees, lender responsibilities, and ongoing reporting requirements.

The full SBA procedural notice can be found here.

Adam Witmer

Adam Witmer is a speaker, author, and founder of the Compliance Cohort. Adam has taught hundreds of seminars and training sessions to thousands of bankers throughout the United States and teaches on all areas of regulatory compliance. Adam has written five e-books that he never published, hit a grizzly bear while driving in a National Park, and is an award winning photographer and musician (though he no longer takes photos nor plays any instruments). In his spare time, Adam can be found kayaking on the lake, doing taekwondo with his kids, working on his (project) house, or spending time with his family.

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