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SBA RIN: 3245-AH39 Publication ID: Fall 2022 
Title: Business Loan Program Temporary Changes; Paycheck Protection Program--Requirements--Corporate Groups and Non-Bank and Non-Insured Depository Institution Lenders 

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, and April 28, 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 limiting the amount of PPP loans that any single corporate group may receive and provided additional guidance on the criteria for non-bank lender participation in the PPP.  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: None     (To search for a specific CFR, visit the Code of Federal Regulations.)
Legal Authority: Pub. L. 116-136, sec. 1102,1106   
Legal Deadline:
Action Source Description Date
Final  Statutory  Public Law 116-136, sec. 1114  04/11/2020 
Action Date FR Cite
Interim Final Rule  05/04/2020  85 FR 26324   
Interim Final Rule Effective  05/04/2020 
Interim Final Rule Comment Period End  06/03/2020 
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