SBA: Disaster Loan Program Changes

Notice of interim final rule with comment period from the Small Business Administration (SBA) implementing changes to the Disaster Loan Program regulations. For applications for COVID-19 Economic Injury Disaster (COVID EIDL) loans, this rule changes the definition of affiliation, the eligible uses of loan proceeds, and application of the size standard to certain hard-hit eligible entities and is establishing a maximum loan limit for borrowers in a single corporate group. This interim final rule is effective September 8, 2021. Comments are due by October 8, 2021.
Source: Federal Register updates via the Rural Assistance Center - Category: Rural Health Source Type: news