Small Business Administration Issues Interim Final Rule and Final Application Form for Paycheck Protection Program

April 3, 2020

Yesterday, the U.S. Small Business Administration (“SBA”) published (a) an interim final rule (available here) regarding, and (b) a “final” form application (the “revised application”, available here) with respect to, the Paycheck Protection Program (the “Program” or “PPP” and such rule, the “Rule”). As described in greater detail in our previous client alerts, SBA “Paycheck Protection” Loan Program Under the CARES Act and Small Business Administration and Department of Treasury Publish Paycheck Protection Program Loan Application Form and Instructions to Help Businesses Keep Workforce Employed, the Program provides $349 billion to help small businesses impacted by COVID-19 keep their employees on the payroll and their businesses solvent.

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