SBA Issues New PPP Guidance

The Small Business Administration today issued new guidance for its Paycheck Protection Program.

It’s new guidance had verbiage that would make it less likely for large companies and institutions like the burger chain Shake Shack, which has a location in the Country Club Plaza, and Harvard University to receive the funds. Both reportedly paid the money back.

Says the new guidance: “It is unlikely that a public company with substantial market value and access to capital markets will be able to make the required certification in good faith, and such a company should be prepared to
demonstrate to SBA, upon request, the basis for its certification.”

Click here to read the SBA’s new guidance.