JohnH Posted May 7, 2020 Report Share Posted May 7, 2020 I've become very circumspect about giving advice or opinions about PPP loan forgiveness compliance. I even accidentally posted a rumor on another site in the midst of warning about internet advice based on rumors. Anyhow, I'm beginning to think it might be a good idea to come up with a special disclaimer when discussing PPP with clients. I don't want someone's PPP loan forgiveness to fail in part or in total because they acted on something I said (or something they thought I said). There's just too much at stake with this PPP loan forgiveness. Does anyone here share those concerns and do you have any thoughts on what a special disclaimer may look like? 2 Quote Link to comment Share on other sites More sharing options...
Lee B Posted May 7, 2020 Report Share Posted May 7, 2020 "Since the Treasury Department and the Small Business Administration is making this up as they go along, any advice that I give you is subject to change and should not be used to make any decisions." This is tongue in check, unfortunately it's also reflects the situation that we are in. 3 Quote Link to comment Share on other sites More sharing options...
JohnH Posted May 7, 2020 Author Report Share Posted May 7, 2020 I did have one humorous conversation with a friend (not a client). We were discussing an issue of his which is similar to an issue of mine. I finally said something to this effect: "I'm telling you what I'm doing, but I'm not telling you that you should be doing what I'm doing. I may suddenly change what I'm doing if I get different info from the SBA. And I can't promise I'll remember to tell you I changed what I'm doing because I may not even remember this conversation a week or more from now. So take this conversation for what it's worth." He responded "I get it and I appreciate your honesty" (I'm sure in the back of his head he was thinking "I need to keep asking John what he's doing about this.") 2 Quote Link to comment Share on other sites More sharing options...
Lion EA Posted May 7, 2020 Report Share Posted May 7, 2020 My short answer (or the final words in any longer answer) seem to be, "Ask your banker." I tell people (clients and non) that their banker/lender will interpret the SBA regulations re their specific loan. I remind people we do not expect SBA guidance until the middle of May. And, of how many, many times things have changed so far this year! 2 Quote Link to comment Share on other sites More sharing options...
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