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5/28/2020 7:11:01 PM
 
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Section 5: OPA Board Subject: Parks and Board Out of Control Msg# 1084407
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Tom,
You are right. Once the SBA realized that their 96 auditors would likely not be capable of reviewing PPP loans over $2MM they gave safe harbor to all loans, short of phantom employers, under $2MM. But I can't reconcile how a a nonprofit 501(c)(4) HOA could decide that it was okay to apply for a PPP loan in the first place. You have this application in front of you and you see that only 501(c)(3) and 501(c)(19) are eligible. So you decide to check off "Other" and see what happens? |
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For reference, the above message is a reply to a message where: Seems you chose to ignore the SBA's safe harbor provision. Such provision is pretty fatal to your further debating. When the SBA says it not going after reviewing any loans below $2 million, all those technical objections, interpretations, and counter interpretations become moot. End of story !!!!!!!!!! |
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