SBA Lender Authorization

Do lenders need a separate SBA Authorization document to issue PPP loans?

No. A separate authorization is not required. If this question applies to you please read below for the full answer.

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 Q21 as of April 10, 2020

21. Question: Do lenders need a separate SBA Authorization document to issue PPP loans?

Below is the official answer from Q21 as of April 10, 2020

Answer: No. A lender does not need a separate SBA Authorization for SBA to guarantee a PPP loan. However, lenders must have executed SBA Form 2484 (the Lender Application Form for the Paycheck Protection Program) to issue PPP loans and receive a loan number for each originated PPP loan. Lenders may include in their promissory notes for PPP loans any terms and conditions, including relating to amortization and disclosure, that are not inconsistent with Sections 1102 and 1106 of the CARES Act, the PPP Interim Final Rule and guidance, and SBA Form 2484.

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