NAHB members and lawyers came together for a discussion about the U.S. CARES Act Paycheck Protection Program (PPP) and reimbursement for PPP loans. When the Small Business Administration (SBA) rolled out the PPP, it excluded many home builders and multi-family housing operations from the program on the grounds that they were “speculative” or “passive” businesses. The NAHB sued and won, securing an injunction requiring the SBA to forgive PPP loans issued to NAHB members. This panel discussion reviewed the PPP program, the litigation, and NAHB members’ entitlement to reimbursement.
These key takeaways serve as a useful tool and reminder of our discussion points. Additionally, a copy of the Opinion issued in this matter can be found here.
Amy Chai, Assistant Vice President, Legal Advocacy, National Association of Home Builders
Gordon D. Todd, Partner, Sidley
Forrest Wall, Director of Regulatory and Legal Affairs, Home Builders Association of Michigan
For questions or additional information, please contact firstname.lastname@example.org.