PIA National Files Comments on Interim Final Rule on Appeals of SBA Loan Review Decisions Under PPP
On the regulatory front, PIA National has filed comments in response to an Interim Final Rule (IFR) by the U.S. Small Business Administration (SBA) regarding the process for appealing SBA loan decisions under the Paycheck Protection Program (PPP). The proposed rule sets forth the process for a PPP borrower to appeal certain SBA loan review decisions on requests for loan forgiveness made in connection with a PPP loan to the SBA Office of Hearings and Appeals.
PIA National is concerned that the appellate process in the rule is overly burdensome for small businesses. The process set forth “is so demanding that it risks discouraging borrowers from appealing, thereby protecting erroneous loan forgiveness decisions from the scrutiny they deserve,” said PIA in its comments. Read PIA’s full comments here.