Burr & Forman

06.15.2020   |   Articles / Publications

FAQ’s About Paycheck Protection Program (PPP) & CARES Act Audits, Investigations and Defense

PREPARED BY BURR’S PPP AND CARES ACT AUDIT, INVESTIGATIONS, AND DEFENSE TEAM

1. Will my PPP loan be audited?
Yes, if your PPP loan is over $2 million. If your PPP loan is less than $2 million, you may be audited, but this is not certain.

2. If I apply for forgiveness of my PPP loan does this increase the likelihood of my loan being audited?
Yes, as a practical matter. If you apply for loan forgiveness, you must provide documents and information to support your request for loan forgiveness, and your bank, the SBA, and potentially others in the government will review this information, as well as your original PPP loan application.

Download Full FAQ Sheet

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