We recently advised that the SBA directed that all Paycheck Protection Program (“PPP”) applicants must meet the required “need certification”. The SBA had initially stated that borrowers who received a PPP loan who could not satisfy the need requirement may repay that loan in full by May 7 (the “Safe Harbor”). The SBA has now extended the repayment date for this Safe Harbor to May 14, 2020. In other PPP news, the SBA intends to issue a rule providing that an employer will not be penalized if an employee refuses to return to work, but the employer must make a good faith, written offer of rehire and document the employee’s rejection of the offer. Please click here to read these important PPP updates.