SBA: Business Loan Program Temporary Changes; Paycheck Protection Program as Amended by Economic Aid Act

Notice of interim final rule with comment period from the Small Business Administration (SBA) allowing new Paycheck Protection Program (PPP) borrowers flexibility in choosing 2019 or 2020 as the base period to calculate maximum loan amounts. This interim final rule also consolidates and restates interim final rules regarding borrower eligibility, lender eligibility, and PPP application and origination requirements for new PPP loans. This interim final rule is effective January 12, 2021. Comments are due by February 16, 2021.
Source: Federal Register updates via the Rural Assistance Center - Category: Rural Health Source Type: news