Sorry if this is a duplicate post.
I wanted to make aware that the SBA and the Treasury Department updated their FAQ list yesterday to include “How will SBA review borrowers’ required good-faith certification concerning the necessity of their loan request?”
If I’m interpreting this correctly, the SBA has determined that if you asked for a loan amount smaller than $2 million, it will be considered in “good faith,” and will not be subject to be paid back or an audit.
I’ve attached a pdf with the FAQs on it. See #46 for this specific subject.