PPP Multifamily ineligibility

[AJ Sekhon]

Looks like the sba and treasury has denied multifamily owners from accessing PPP funding. Terrific...

https://www.nmhc.org/news/press-release/2020/apartment-industry-urges-sba-and-treasury-to-amend-paycheck-protection-program-to-enable-multifamily-participation/

[Kim Lisa Taylor]

Thanks for posting this. I have written to all of my Senators and Congressional Representatives requesting that they require all commercial lenders with government-backed commercial loans (Fannie Mae, Freddie Mac and HUD) to defer commercial mortgage payments for the same duration as tenant evictions are stayed, with all deferred mortgage payments to be automatically added to the loan term - no modification. extension or balloon payment needed. Commercial lenders should be pressured to do the same. If everyone on BP writes to their own federal representatives, maybe they will do something.