Looking for answers about PPP Loans? We have answers!
This information was last updated on Monday April 13, 2020 at 11:30 a.m. We will update this page with changes and update the timestamp accordingly.
The SBA continues to issue guidance on loans made through the Paycheck Protection Program (PPLs). In our previous posts we provided the Information Sheet and Revised Application Form issued late April 2, 2020. Subsequently, guidance issued through April 10, 2020, included the First PPP Interim Final Rule posted on April 2, 2020, a Fact Sheet about Affiliation Rules, Frequently Asked Questions for Faith-Based Organizations, and a series of FAQs The Department of Treasury and the SBA are updating several times a week. The most recent FAQs are as of April 15, 2020.
We have updated and supplemented the FAQs previously posted to reflect the most recent guidance, including the Third PPP Interim Final Rule issued April 14, 2020, which addresses “Additional Eligibility Criteria and Requirements for Certain Pledges of Loans”. We will refer to the April 14, 2020 Third PPP Interim Final Rule as “Third IFR” or “IFR.”
The answers below may change based on future guidance issued by the SBA or Department of Treasury and changes made by Congress and signed into law by the President. We continue to recommend you also consult with your lender on specific questions.
Paycheck Protection Program (PPP) Information SheetPaycheck Protection Program (PPP) Application Form
Highlights of the Third IFR on Additional Eligibility