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Dear NAA Member:
The Coronavirus Aid, Relief, and Economic Security (CARES) Act recently established the Paycheck Protection Program (PPP), a new $349 billion forgivable loan program under the Small Business Administration’s (SBA) existing Section 7(a) lending program. While both the U.S. Department of the Treasury and the SBA have issued varying levels of guidance for borrowers and lenders, questions persist as to how the terms of the PPP reflect the unique needs of the rental housing industry.
The National Apartment Association (NAA) has released an informational webinar, conducted by Womble Bond Dickinson (US) LLP, which tackles common questions surrounding the PPP and explores its implications for rental housing owners and operators.
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