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On April 2, 2020, the U.S. Small Business Administration (SBA) posted an interim final rule (the First PPP Interim Final Rule) announcing the implementation of the Coronavirus Aid, Relief, and Economic Security Act (CARES Act or the Act).  The Act temporarily adds a new program, titled the Paycheck Protection Program, to the SBA’s 7(a) Loan Program.  The Act also provides for forgiveness of up to the full principal amount of qualifying loans guaranteed under the Paycheck Protection Program (PPP).  The PPP is intended to provide economic relief to small businesses nationwide adversely impacted by the Coronavirus Disease 2019 (COVID-19).  SBA posted additional interim final rules on April 3, 2020, April 14, 2020, and April 24, 2020. This final rule supplemented the previously posted interim final rules with additional guidance. This rule will be finalized and codified as part of a single consolidated rule.