Good Morning Association Executives - Attached please find a memorandum from the National Council's outside counsel regarding the Small Business Administration (SBA) Form 3510 – Paycheck Protection Program (PPP) Loan Necessity Questionnaire.
Nonprofit organizations that received a PPP loan in excess of $2 million will be asked to complete SBA Form 3510 along side their loan forgiveness application. The attached memorandum provides significant background on SBA Form 3510, addresses a number of concerns that have arisen therefrom, and provides a set of recommendations for organizations moving forward.
As always, it is imperative that organizations consult with independent legal counsel regarding SBA Form 3510, as well as applying for PPP loan forgiveness.
Nothing contained within the attached memorandum should be construed to be legal advice.
Thank you so much and please let me know if you have any questions!
Stephanie Katz
Director, Federal Policy and Advocacy
National Council for Behavioral Health
Stephaniek@TheNationalCouncil.org
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Neal Comstock
Director of Membership
National Council
NealC@TheNationalCouncil.org202 748-8793
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