Authorized Signatories

May lenders accept signatures from a single individual who is authorized to sign on behalf of the borrower of a PPP Loan?

Yes, an authorized signatory can submit a PPP application, granted they are authorized to make all certifications in the application including with respect to the applicant and all owners of 20% or more of the applicants equity.

Linked here and pasted below is the text from the official question and answer document published by the Department of the Treasury on April 10, 2020, which you should reference:

https://home.treasury.gov/system/files/136/Paycheck-Protection-Program-Frequently-Asked-Questions.pdf

Below is the official question from Q11 as of April 10, 2020

11. Question: May lenders accept signatures from a single individual who is authorized to sign on behalf of the borrower?

Below is the official answer from Q11 as of April 10, 2020

Answer: Yes. However, the borrower should bear in mind that, as the Borrower Application Form indicates, only an authorized representative of the business seeking a loan may sign on behalf of the business. An individual’s signature as an “Authorized Representative of Applicant” is a representation to the lender and to the U.S. government that the signer is authorized to make the certifications, including with respect to the applicant and each owner of 20% or more of the applicant’s equity, contained in the Borrower Application Form. Lenders may rely on that representation and accept a single individual’s signature on that basis.

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For more information, check out this related resource: Funding a Business

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