Complaint Verified Complaint for Injunctive & Declaratory Relief — No. 1:22-cv-04602 (Dkt. 1, N.D. Ill.)

Summary

A verified complaint for injunctive and declaratory relief filed August 29, 2022 as Document 1 in Franklin Capital Holdings LLC v. The United States Small Business Administration et al., Case No. 1:22-cv-04602, in the U.S. District Court for the Northern District of Illinois. Franklin, a financial business engaged in accounts receivable, purchase order and trade financing, seeks review of the SBA's denial of forgiveness of a $295,100.00 PPP loan from CIBC Bank USA funded April 10, 2020. It states the SBA's January 31, 2022 Final Decision found Franklin a business primarily engaged in lending under 13 C.F.R. § 120.110(b), and the OHA affirmed on July 10, 2022. The complaint argues the April 15, 2020 Interim Final Rule could not apply retroactively and asks the court to declare the denial arbitrary and capricious and direct forgiveness.

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