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Warner Norcross + Judd LLP is a corporate law firm with over 230 attorneys serving clients in nine offices throughout Michigan. Among the largest law firms in Michigan, Warner works in virtually all areas of business law.

Michigan Law Firm - Warner Norcross + Judd LLP

On Friday, May 22, 2020, the Small Business Administration (SBA) and Department of Treasury issued a Lender Interim Final Rule (<a href="https://home.treasury.gov/system/files/136/PPP-IFR-SBA-Loan-Review-Procedures-and-Related-Borrower-and-Lender-Responsibilities.pdf" target="_blank" rel="noopener">Lender IFR</a>) that explains the SBA’s process for reviewing PPP loans and provides direction on certain PPP lender responsibilities associated with loan forgiveness.&nbsp;The Lender IFR was issued in conjunction with a Borrower Interim Final Rule (<a href="https://home.treasury.gov/system/files/136/PPP-IFR-Loan-Forgiveness.pdf" target="_blank" rel="noopener">Borrower IFR</a>) outlining borrower obligations related to loan forgiveness. The Lender IFR provides the following:

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Loan Forgiveness Process for Lenders&nbsp;

The rules surrounding PPP loans are complex and business specific. If you have concerns about the rules, please contact <a href="http://wnj.com/people/ford-j-h-turrell" target="_blank" rel="noreferrer noopener">Ford Turrell</a>, <a href="http://wnj.com/people/timothy-hillegonds" target="_blank" rel="noreferrer noopener">Timothy Hillegonds</a>, <a href="http://wnj.com/people/rob-m-davies" target="_blank" rel="noreferrer noopener">Rob Davies</a>, <a href="http://wnj.com/people/matthew-m-crowe" target="_blank" rel="noreferrer noopener">Matthew Crowe</a>, <a href="http://wnj.com/people/charlie-goode" target="_blank" rel="noreferrer noopener">Charlie Goode</a>, <a href="http://wnj.com/people/jeffrey-a-ott" target="_blank" rel="noreferrer noopener">Jeffrey Ott</a> or your Warner attorney.

Financial Institutions

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Matthew M. “Matt” Crowe

Rob M. Davies

Charlie Goode

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Timothy “Tim” Hillegonds

Jeffrey A. “Jeff” Ott

Ford J. H. Turrell

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Small Business Administration Issues Interim Final Rule Related to SBA’s PPP Loan Review Process and Lender Obligations

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Small Business Administration Issues Interim Final Rule Related to SBA’s PPP Loan Review Process and Lender Obligations

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