The Small Business Administration (SBA) recently released updated guidance to assist businesses in calculating their eligibility for a Second Draw PPP Loan.
Borrowers and lenders may rely on the guidance provided in the below document as SBA’s interpretation of the CARES Act, the Economic Aid Act, and the Paycheck Protection Program Interim Final Rules. The U.S. government will not challenge lender PPP actions that conform to this guidance and to the PPP Interim Final Rules and any subsequent rulemaking in effect at the time the action is taken.
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