Quarterly report pursuant to Section 13 or 15(d)

Subsequent Events

v3.21.2
Subsequent Events
9 Months Ended
Sep. 30, 2021
Subsequent Events [Abstract]  
Subsequent Events

15. SUBSEQUENT EVENTS

 

On October 8, 2021, the Borrower received the SBA’s final loan review decision which denied forgiveness of the loan in full. On November 4, 2021, the Borrower filed an appeal petition with the SBA’s Office of Hearings and Appeals within the 30 calendar day period after receipt of the final loan review decision. The Borrower's timely filing of the appeal has extended the loan deferment period. No assurance is provided that our appeal will be successful and that we will obtain forgiveness of our portion of the PPP Note in whole or in part. If forgiveness is not granted, interest on our portion of the PPP Note, in whole or in part, will need to be repaid by us.