***Due to the Coronavirus-related orders issued by NC Governor Roy Cooper, the GCAA office is open on a limited basis. Staff will be available for drop-in visits on Tuesdays & Thursdays and are available by appointment only on Wednesdays. Staff will also be available by phone and e-mail. We thank you for your patience as we play our part in keeping our staff and broader community safe.***


SBA Guidance on PPP Ineligibility

Posted By: Wesley Masters News ,

The SBA has now come out with guidance for lenders on administering this loan. Beginning on page 104 business that are ineligible for the loans are identified, which on page 105 identifies “passive businesses” including specifically “apartment buildings”. Accordingly, it is now clear that the ownership entities of multifamily communities would not be eligible for these loans. As this is under the “passive” heading it should not include management companies as ineligible.


Click HERE to read more!