U.S. Says It Will Trust Small Business Owners When They Say They Need Loans

WASHINGTON—The Trump administration says it will presume borrowers have met the certification requirements for forgivable small-business loans under $2 million in the Paycheck Protection Program, in a move aimed at easing borrower fears that their loans won’t be forgiven.

The “safe harbor” announcement from the Small Business Administration Wednesday followed concerns by business owners’ about running afoul of the program’s rules, which have changed since the PPP opened for applications.