Paycheck Protection Program (PPP) Update – Thursday, January 28, 2021

SBA, in continuing  established communications messaging, provides the following:
 
Information Notice 5000-20087 – Updated Section 1112 Tax Implication Reporting Requirements

https://www.sba.gov/document/information-notice-5000-20087-updated-information-irs-information-reporting-relating-payments-made-behalf-borrowers-under-section
 
 
Procedural Notice 5000-20089 – Extend 7(a) and 504 Electronic Signatures through 4-30-21
 
https://www.sba.gov/document/procedural-notice-5000-20089-extension-previous-guidance-acceptable-signatures-applications-loan-documents-7a-504-business-loan
 
 
Procedural Notice 5000-20090 – Extend Microloan Electronic Signatures through 4-30-21

https://www.sba.gov/document/procedural-notice-5000-20090-extension-guidance-acceptable-signatures-microloan-program-notes
 
 
Procedural Notice 5000-20088 – Extend Microloan Closings through 4-30-21

https://www.sba.gov/document/procedural-notice-5000-20088-extension-temporary-procedures-closing-sba-loans-microloan-intermediaries