The SBA updated banks last night with a new Paycheck Protection Program Application form in the link below (as of this email).  The revised form can be identified at the bottom left of the page referencing SBA Form 2483 04/20 (it was 03/20).

If you completed, signed and submitted an Application already or plan on doing so, please check with your lender to confirm the Application submitted is acceptable or if a new Application will be needed.

https://home.treasury.gov/system/files/136/Paycheck-Protection-Program-Application-3-30-2020-v3.pdf

Changes:
  • Consistently uses Applicant now and not Business/Applicant as interchangeable terms
  • Asks Applicants for the “Number of Employees” rather than the “Number of Jobs”
  • Revised Question 7
  • Add Question 8 regarding franchise
  • Material changes to the Representations
  • Material changes to the Certifications

A printable version of this information can be found by clicking HERE.

 

Authors: Mark Brasee & Neil Hassler

Mark L. Brasee

Mark L. Brasee

Partner

(402) 978-5306
mbrasee@fraserstryker.com
Neil P. Hassler

Neil P. Hassler

Associate

(402) 978-5374
nhassler@fraserstryker.com
This article has been prepared for general information purposes and (1) does not create or constitute an attorney-client relationship, (2) is not intended as a solicitation, (3) is not intended to convey or constitute legal advice, and (4) is not a substitute for obtaining legal advice from a qualified attorney. Always seek professional counsel prior to taking action.