The lender has a duty to underwrite the file - This is still a "LOAN" everyone appears to be missing that point. The media blasts out that the PPP is "Forgiven" and many miss the word "BUT"

The merchant has to spend these funds within 8 weeks of them accepting the loan
and they have to prove they spent the $$ within the guidelines.

Time shall tell, but, I'm betting that many merchants will not be "Forgiven"
which then generates additional debt for a business owner, that has to be repaid within 12 months.


IMO - merchants should forgo the PPP and apply for a SBA Loan.

Read the "Additional Funding Notice" on the SBA Web Site - read between the lines:

https://www.sba.gov/page/coronavirus...ction-header-0

SBA Debt Relief:

https://www.sba.gov/funding-programs...ction-header-0