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Guidance Released Regarding PPP Loans

The U.S. Small Business Administration (SBA) and Treasury have issued two interim final rules (IFR’s) regarding the Paycheck Protection Program (PPP).  Below are links to the IFR’s and descriptions for the content included therein.  We will provide updates and summaries of the IFR’s as additional information and forms are made available.

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

Consolidates rules for PPP forgivable loans for first-time borrowers and outlines changes made by the Economic Aid to Hard-Hit Small Businesses.

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Business Loan Program Temporary Changes; Paycheck Protection Program Second Draw Loans

Guidelines for new PPP loans to businesses that previously received a PPP loan.

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