What are the requirements as a borrower?

FAQ Answer

An eligible recipient applying for a covered loan shall make a good faith certification:

1)  That the uncertainty of current economic condition makes necessary the loan request to support the ongoing operations of the eligible recipient;
2)  Acknowledging that funds will be used to retain workers and maintain payroll or mortgage payments, lease payments, and utility payments;
3) That the eligible recipient does not have an application pending for a loan for the same purpose and duplicative of amounts applied for or received under a covered loan; and
4) During the period beginning on February 15, 2020 and ending on December 31, 2020, that the eligible recipient has not received amounts for the same purpose and duplicative of amounts applied for or received under a covered loan.

FAQ Weight
12