SBA & Treasury Department Certification Guidance Issued
The SBA and Treasury Department released guidance addressing PPP certification as part of an update to the PPP Frequently Asked Questions (question 46).

FAQ question 46 establishes a new safe harbor for borrowers who received PPP loans of less than $2 million. Borrowers with loans in excess of $2 million will likely be audited and expected to have the basis for a good-faith certification. If the SBA determines that a borrower's certification was not justified, the loan will not be forgiven and must be repaid.

NADA has released an analysis, the PPP Loan Certification of Need: NADA Analysis of Clarifying Guidance from SBA and Treasury, that provides guidance for dealers taking a PPP loan.