During a recent BVR webinar, speakers report that many business owners will claim their Payroll Protection Plan (PPP) loans will be 100% forgiven. In reality, not everyone will receive 100% forgiveness, so appraisers need to make their own decisions about whether what clients are saying is reasonable or not. The U.S. Small Business Administration (SBA) and Treasury have issued new guidance for the reopening of the PPP. The new guidance released includes:

• PPP guidance from SBA Administrator Carranza on accessing capital for minority, underserved, veteran, and women-owned business concerns;
• Interim final rule on Paycheck Protection Program as amended by Economic Aid Act; and
• Interim final rule on second draw PPP loans.

Speakers on the BVR webinar also advised experts to consult with a client’s accountant and attorney about the loan forgiveness.