SBA / Treasury FAQ – 29. Can lenders use scanned copies of documents or E-signatures or E-consents permitted by the E-sign Act?

Compliance > CARES Act
Q:  Can lenders use scanned copies of documents or E-signatures or E-consents permitted by the E-sign Act?
 
A:  Yes. All PPP lenders may accept scanned copies of signed loan applications, loan forgiveness applications, and documents containing the information and certifications required by SBA Forms 2483, 2483-C, 2483-SD, 2483-SD-C, 3508, 3508EZ, 3508S, or 3508D, and the promissory note used for the PPP loan. Additionally, lenders may also accept any form of E-consent or E-signature that complies with the requirements of the Electronic Signatures in Global and National Commerce Act (P.L. 106-229). If electronic signatures are not feasible, when obtaining a wet ink signature without in-person contact, lenders should take appropriate steps to ensure the proper party has executed the document. This guidance does not supersede signature requirements imposed by other applicable law, including by the lender’s primary federal regulator.
 
 

This Q&A was based on information contained in the Treasury Department’s March 12, 2021, version of “Paycheck Protection Program Loans, Frequently Asked Questions,” which is 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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