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SBA RIN: 3245-AH48 Publication ID: Fall 2021 
Title: Business Loan Program Temporary Changes; Paycheck Protection Program--Eligibility of Certain Telephone Cooperatives 
Abstract:

On April 2, 2020, the U.S. Small Business Administration (SBA) posted an interim final rule announcing the implementation of the Coronavirus Aid, Relief, and Economic Security Act (CARES Act).  The CARES Act temporarily adds a new program, titled the "Paycheck Protection Program," to the SBA’s 7(a) Loan Program.  The CARES 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, April 24, 2020, April 28, 2020, April 30, 2020, May 5, 2020, May 8, 2020, May 13, 2020, May 14, 2020, May 18, 2020, May 20, 2020, and May 22, 2020; SBA and Treasury posted an additional interim final rule on May 22, 2020; and the Department of the Treasury posted an additional interim final rule on April 28, 2020.  This interim final rule supplemented the previously posted interim final rules by providing guidance on additional eligibility requirements for certain telephone cooperatives. This rule will be finalized and codified as part of a single consolidated rule.

 
Agency: Small Business Administration(SBA)  Priority: Economically Significant 
RIN Status: Previously published in the Unified Agenda Agenda Stage of Rulemaking: Final Rule Stage 
Major: Yes  Unfunded Mandates: No 
CFR Citation: 13 CFR 120    13 CFR 121   
Legal Authority: Pub. L. 116-136    Pub. L. 116-139   
Legal Deadline:  None
Timetable:
Action Date FR Cite
Interim Final Rule Effective  06/08/2020 
Interim Final Rule  06/11/2020  85 FR 35550   
Interim Final Rule Comment Period End  07/13/2020 
Final Action  09/00/2022 
Regulatory Flexibility Analysis Required: No  Government Levels Affected: None 
Federalism: No 
Included in the Regulatory Plan: No 
RIN Data Printed in the FR: No 
Agency Contact:
Dianna L. Seaborn
Director, Office of Financial Assistance
Small Business Administration
409 Third Street SW,
Washington, DC 20416
Phone:202 205-3645
Email: dianna.seaborn@sba.gov