Director, Office of Financial Assistance

3245-AH41 202304 Unified Agenda of Federal Regulatory and Deregulatory Actions 3245 Small Business Administration SBA Business Loan Program Temporary Changes; Paycheck Protection Program--Requirements--Extension of Limited Safe Harbor With Respect to Certification Concerning Need for PPP Loan Request

On April 24, 2020, the U.S. Small Business Administration (SBA) posted an interim final rule relating to promissory notes, authorizations, affiliation, and eligibility in connection with the implementation of a temporary new program, titled the Paycheck Protection Program. The Paycheck Protection Program was established under the Coronavirus Aid, Relief, and Economic Security Act (CARES Act). This interim final rule revised the interim final rule posted on April 24, 2020, by extending the date by which certain Paycheck Protection Program borrowers may repay their loans from May 7, 2020 to May 14, 2020, in order to avail themselves of a safe harbor with respect to a certification required by the CARES Act, and made other conforming changes. This rule will be finalized and codified as part of a single consolidated rule.

]]> Economically Significant Previously Published in The Unified Agenda Final Rule Stage Yes No 13 CFR 120 Pub. L. 116-136 Pub. L. 116-139 No Interim Final Rule 05/19/2020 85 FR 29845 Interim Final Rule Effective 05/19/2020 Interim Final Rule Comment Period End 06/18/2020 Final Action 11/00/2023 No None No No No Dianna Seaborn L. Director, Office of Financial Assistance 3245 Small Business Administration SBA 202 205-3645 dianna.seaborn@sba.gov 409 Third Street SW, Washington DC 20416