Sauder Schelkopf is investigating a class action lawsuit on behalf of agents who have not received agents’ fees in connection with the Coronavirus Aid, Relief, and Economic Security Act’s Paycheck Protection Program (“PPP”). It has been alleged that lenders, who are compensated by the Small Business Administration (“SBA”) for processing loans, may not be paying agents their required fees for helping to prepare applications for PPP loans. Per the PPP, agents who assist borrowers in applying for loans are entitled to:
- one percent of lenders’ fees for loans of not more than $350,000;
- 0.5 percent for loans of more than $350,000 and less than $2 million;
- and 0.25 percent for loans of at least $2 million.
Experience Matters
Sauder Schelkopf is a nationally recognized class action and personal injury law firm. The firm’s partners currently serve as court appointed lead counsel in courts across the country and have been selected by the National Trial Lawyers Association as some of the Top 100 Trial Lawyers in Pennsylvania since 2012. The attorneys at Sauder Schelkopf have recovered over $500 million on behalf of their clients and class members.
We Want to Hear from You
If you are: an attorney; an accountant; a consultant; someone who prepared an applicant’s application for financial assistance and is employed and compensated by the applicant; someone who assisted a lender with originating, disbursing, servicing, liquidating, or litigating SBA loans; a loan broker; or any other individual or entity representing an applicant by conducting business with the SBA, and have not received payment in connection with helping borrowers to obtain PPP loans, please contact by filling out the form on this page.