Businesses and not-for-profits that received $2 million or more in Paycheck Protection Program (PPP) loans must complete one of two new loan necessity questionnaires being sent to lenders by the U.S. Small Business Administration (SBA) for distribution to borrowers. The new forms are designed to collect supplemental information SBA loan reviewers will use in evaluating the good-faith certification borrowers made on their PPP applications that economic uncertainty made their loan request necessary to support ongoing operations. It is expected that nonprofit entity borrowers will be required to complete Form 3510 and for-profit entity borrowers will be required to complete Form 3509. These troubling new questionnaires specifically require borrowers to disclose information regarding their operations and liquidity during their covered periods. Read more at The Journal of Accountancy. If you have any questions regarding your PPP loan and the information that is required, it is best to consult your accountant or attorney.