Instructional Video Now Available: Reporting and Repayment Obligations for Paycheck Protection Program Liquidity Facility (PPPLF) Participants that Have Received Loan Forgiveness Payments from the Small Business Administration (SBA)
November 9, 2020
An instructional video that demonstrates the process for completing the PPPLF Individual Paycheck Protection Program (PPP) Loan Reduction Report (reduction report) is now available.
From the date that a PPPLF participant begins receiving forgiveness reimbursement payments from the SBA and begins forgiveness paydowns on PPP loans that are pledged to the PPPLF, it must report all reductions of its pledged PPP loan pools for a given maturity date to its lending Reserve Bank every two weeks (or more frequently, if requested by the lending Reserve Bank or if the participant wishes to report more frequently). The amount of the associated PPPLF advance will be reduced accordingly so that the amount of a PPPLF advance does not exceed the aggregate outstanding amount of PPP loans pledged to secure that advance. A PPPLF participant reports PPP loan paydowns that it has received by submitting a reduction report (Off-site).
You can find PPPLF reporting and repayment information, including the template for the reduction report and sample documents, on the PPPLF (Off-site) page of the Discount Window website. If you have any questions, please contact your lending Reserve Bank (Off-site).