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SBA RIN: 3245-AH35 Publication ID: Fall 2022 
Title: Business Loan Program Temporary Changes; Paycheck Protection Program 

On April 2, 2020, the U.S. Small Business Administration (SBA) issued an interim final rule (the Initial Rule) announcing the implementation of sections 1102 and 1106 of the Coronavirus Aid, Relief, and Economic Security Act (CARES Act or the Act).  Section 1102 of the Act temporarily adds a new program, titled the Paycheck Protection Program, to the SBA’s 7(a) Loan Program.  Section 1106 of the Act provides for forgiveness of up to the full principal amount of qualifying loans guaranteed under the Paycheck Protection Program.  The Paycheck Protection Program and loan forgiveness are intended to provide economic relief to small businesses nationwide adversely impacted by the Coronavirus Disease 2019 (COVID-19).  This final rule supplemented the Initial Rule with additional guidance regarding the application of certain affiliate rules applicable to SBA’s implementation of sections 1102 and 1106 of the Act.  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 121   
Legal Authority: Pub. L.116-136, sec. 1114   
Legal Deadline:
Action Source Description Date
Final  Statutory  Public Law 116-136, sec. 1114  04/11/2020 
Action Date FR Cite
Interim Final Rule  04/15/2020  85 FR 20817   
Interim Final Rule Effective  04/15/2020 
Interim Final Rule Comment Period End  05/15/2020 
Final Action  11/00/2023 
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