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Since 1923, AGC Houston has been supporting local commercial construction through the advancement of issues important to the industry. The chapter continues to be an industry leader in education and professional development, safety training, market data resourcing and member networking.
AGC Top News
AGC of America has just learned that the U.S. Small
Business Administration (SBA) intends to withdraw the “Loan Necessity
Questionnaire” that has heavily burdened all applications for the forgiveness
Paycheck Protection Program Loans of over $2M and long delayed the forgiveness
of many of those loans.
AGC of America sued SBA last December for developing the
form entirely in secret, and without public input, and for using the form to
change the de facto requirements for the forgiveness of such loans. For
several weeks, AGC and SBA have been trying to negotiate a settlement of that
lawsuit. It was in the course and context of those negotiations that AGC
learned of SBA’s decision to completely withdraw the questionnaire, and that
the agency has already begun the process of doing so. Recently, and
perhaps for that reason, AGC has also received an exceptionally large number of
reports of the forgiveness of loans over $2M.
At this point, AGC of America does not have any additional information but does expect more information to be forthcoming. Once it does, AGC will certainly follow-up. In the interim, this is excellent news for the thousands of AGC members who accepted such loans from SBA in a good faith effort to keep their people working though the pandemic.