Director, Office of Financial Assistance

3245-AH63 202310 The Regulatory Plan and the Unified Agenda of Federal Regulatory and Deregulatory Actions 3245 Small Business Administration SBA Business Loan Program Temporary Changes; Paycheck Protection Program Second Draw Loans

This interim final rule announced the implementation of section 311 of the Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act (the Economic Aid Act). The Economic Aid Act authorizes the U.S. Small Business Administration to guarantee additional loans under the temporary Paycheck Protection Program, which was originally established under the Coronavirus Aid, Relief, and Economic Security Act to provide economic relief to small businesses nationwide adversely impacted under the Coronavirus Disease 2019 (COVID-19) Emergency Declaration (COVID-19 Emergency Declaration) issued on March 13, 2020. Section 311 of the Economic Aid Act adds a second temporary program to SBA’s 7(a) Loan Program titled, "Paycheck Protection Program Second Draw Loans.” This interim final rule implemented the key provisions of section 311 of the Economic Aid Act and requested public comment. This rule will be finalized and codified as part of a single consolidated rule.

]]> Section 3(f)(1) Significant Previously Published in The Unified Agenda Final Rule Stage Yes No 13 CFR 120 13 CFR 121 Pub. L. 116-136 Pub. L. 116-260 Statutory Other 01/06/2021 Pub. L. 116-260, Div. N, sec. 303 No Interim Final Rule Effective 01/12/2021 Interim Final Rule 01/14/2021 86 FR 3712 Interim Final Rule Comment Period End 02/16/2021 Final Action 09/00/2024 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