I hope you and your families are safe at home. I located this on the treasury website.... looking for some feedback on this... I am not sure that I want to engage in this but many of merchants are calling and asking for assistance. Thoughts please?

https://home.treasury.gov/system/fil...ct%20Sheet.pdf

PAYCHECK PROTECTION PROGRAM (PPP) INFORMATION SHEET
LENDERS
Who is eligible to lend? All existing SBA-certified lenders will be given delegated authority to
speedily process PPP loans.
All federally insured depository institutions, federally insured credit unions, and Farm Credit
System institutions are eligible to participate in this program.
A broad set of additional lenders can begin making loans as soon as they are approved and
enrolled in the program. New lenders will need to submit their application to
DelegatedAuthority@sba.gov to apply with the SBA.
Are these loans guaranteed by the SBA? Yes, the SBA guarantees 100% of the outstanding
balance, and that guarantee is backed by the full faith and credit of the United States.
Are there guarantee fees? The SBA waives all SBA guaranty fees, including the upfront and
annual servicing fees.
What underwriting is required? You will need to verify that a borrower was in operation on
February 15, 2020. You will need to verify that a borrower had employees for whom the
borrower paid salaries and payroll taxes. You will need to verify the dollar amount of average
monthly payroll costs. You will need to follow applicable Bank Secrecy Act requirements.
How will lenders be compensated? Processing fees will be based on the balance of the
financing outstanding at the time of final disbursement. SBA will pay lenders fees for processing
PPP loans in the following amounts:
 Five (5) percent for loans of not more than $350,000;
 Three (3) percent for loans of more than $350,000 and less than $2,000,000; and
 One (1) percent for loans of at least $2,000,000.
Lenders may not collect any fees from the applicant.
Who can be an agent? An agent is an authorized representative and can be:
An attorney;
 An accountant;
 A consultant;
 Someone who prepares an applicant’s application for financial assistance and is
employed and compensated by the applicant;
 Someone who assists a lender with originating, disbursing, servicing, liquidating, or
litigating SBA loans;
A loan broker; or
 Any other individual or entity representing an applicant by conducting business with the
SBA.
How will agents be compensated? Agent fees will be paid out of lender fees. The lender will
pay the agent. Agents may not collect any fees from the applicant. The total amount that an agent
may collect from the lender for assistance in preparing an application for a PPP loan (including
referral to the lender) may not exceed:
 One (1) percent for loans of not more than $350,000;
 0.50 percent for loans of more than $350,000 and less than $2 million; and
 0.25 percent for loans of at least $2 million.
Can these loans be sold in the secondary market? PPP loans can be sold in the secondary
market. The SBA will not collect any fee for any guarantee sold into the secondary market.