Director, Office of Financial Assistance

3245-AH56 202304 Unified Agenda of Federal Regulatory and Deregulatory Actions 3245 Small Business Administration SBA Business Loan Program Temporary Changes; Paycheck Protection Program--Treatment of Owners and Forgiveness of Certain Nonpayroll Costs

On April 2, 2020, the U.S. Small Business Administration (SBA) posted on its website an interim final rule relating to the implementation of sections 1102 and 1106 of the Coronavirus Aid, Relief, and Economic Security Act (CARES Act or the Act) (published in the Federal Register on April 15, 2020). Section 1102 of the Act temporarily adds a new product, titled the Paycheck Protection Program, to the U.S. Small Business Administration’s (SBA’s) 7(a) Loan Program. Subsequently, SBA issued a number of interim final rules implementing the Paycheck Protection Program. This interim final rule supplemented the previously posted interim final rules by providing additional guidance on treatment of owners and forgiveness of certain nonpayroll costs. This rule will be finalized and codified as part of a single consolidated rule.

]]> Economically Significant Previously Published in The Unified Agenda Final Rule Stage Yes No 13 CFR 120 Pub. L. 116-136 Pub. L. 116-139 Pub. L. 116-142 Pub. L. 116-147 No Interim Final Rule Effective 08/25/2020 Interim Final Rule 08/27/2020 85 FR 52881 Interim Final Rule Comment Period End 09/28/2020 Final Action 11/00/2023 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