SBA / Treasury FAQ – 19. Do lenders have to use a promissory note provided by SBA or may they use their own?

Compliance > CARES Act
Q:  Do lenders have to use a promissory note provided by SBA or may they use their own?
 
A:  Lenders may use their own promissory note or an SBA form of promissory note.
 
 

This Q&A was based on information contained from the Treasury Department’s April 2020 issuance “Paycheck Protection Program Loans, Frequently Asked Questions,” which has been updated from time to time.  This CARES Act / SBA / PPP related issuance may be found here:  https://home.treasury.gov/system/files/136/Paycheck-Protection-Program-Frequently-Asked-Questions.pdf

 

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