The NAACL Conference provided updates on valuable SBA lending procedures, including new e-tran functionalities and the endorsement of DocuSign with specific requirements.
The SBA is actively investigating the misuse of funds, as reflected in error code 4363, indicating the importance of compliance and due diligence.
A surge in working capital requests is being used to refinance debt, contrary to program stipulations, emphasizing the role of lenders as gatekeepers to ensure proper fund usage.
Despite challenges, the PPP initiative has had a transformative effect, helping businesses sustain operations during unprecedented hardships.
