{"id":267,"date":"2020-05-27T18:29:15","date_gmt":"2020-05-27T22:29:15","guid":{"rendered":"http:\/\/blogs.duanemorris.com\/bankinglaw\/?p=267"},"modified":"2020-06-10T18:31:11","modified_gmt":"2020-06-10T22:31:11","slug":"sba-releases-interim-final-rule-regarding-ppp-lenders-perspective","status":"publish","type":"post","link":"https:\/\/blogs.duanemorris.com\/bankinglaw\/2020\/05\/27\/sba-releases-interim-final-rule-regarding-ppp-lenders-perspective\/","title":{"rendered":"SBA Releases Interim Final Rule Regarding PPP \u2013 Lenders&#8217; Perspective"},"content":{"rendered":"<p>On May 22, 2020, the United States Department of the Treasury and the U.S. Small Business Administration (SBA) released\u00a0<a title=\"Treasury interim final rule\" href=\"https:\/\/home.treasury.gov\/system\/files\/136\/PPP-IFR-Loan-Forgiveness.pdf\" target=\"_blank\" rel=\"noopener noreferrer\">new guidance<\/a>\u00a0concerning the federal government\u2019s Paycheck Protection Program (PPP) implemented under the CARES Act. The\u00a0<a title=\"SBA interim final rule\" href=\"https:\/\/home.treasury.gov\/system\/files\/136\/PPP-IFR-SBA-Loan-Review-Procedures-and-Related-Borrower-and-Lender-Responsibilities.pdf\" target=\"_blank\" rel=\"noopener noreferrer\">interim final rule<\/a>\u00a0sets forth responsibilities for both borrowers and lenders with respect to loan forgiveness review procedures and other matters. The interim final rule applies to all loans under the PPP, and, importantly, states that audits may be exercised in the SBA\u2019s sole discretion, regardless of loan amount.<\/p>\n<p>To read the full text of this Duane Morris <em>Alert<\/em>, please <a href=\"https:\/\/www.duanemorris.com\/alerts\/sba_releases_interim_final_rule_regarding_ppp_lenders_perspective_0520.html\" target=\"_blank\" rel=\"noopener noreferrer\">visit the firm website<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>On May 22, 2020, the United States Department of the Treasury and the U.S. Small Business Administration (SBA) released\u00a0new guidance\u00a0concerning the federal government\u2019s Paycheck Protection Program (PPP) implemented under the CARES Act. The\u00a0interim final rule\u00a0sets forth responsibilities for both borrowers and lenders with respect to loan forgiveness review procedures and other matters. The interim final &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/blogs.duanemorris.com\/bankinglaw\/2020\/05\/27\/sba-releases-interim-final-rule-regarding-ppp-lenders-perspective\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;SBA Releases Interim Final Rule Regarding PPP \u2013 Lenders&#8217; Perspective&#8221;<\/span><\/a><\/p>\n","protected":false},"author":6,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[201,195,196,217,218,216],"ppma_author":[333],"class_list":["post-267","post","type-post","status-publish","format-standard","hentry","category-general","tag-cares-act","tag-coronavirus","tag-covid-19","tag-paycheck-protection-program","tag-ppp","tag-sba"],"authors":[{"term_id":333,"user_id":6,"is_guest":0,"slug":"duanemorris3","display_name":"Duane Morris","avatar_url":"https:\/\/secure.gravatar.com\/avatar\/843ff6e7a8fe5fc92109b47a45f34b6cf0ea499e6e788db23456c838b0ae6747?s=96&d=blank&r=g","0":null,"1":"","2":"","3":"","4":"","5":"","6":"","7":"","8":""}],"_links":{"self":[{"href":"https:\/\/blogs.duanemorris.com\/bankinglaw\/wp-json\/wp\/v2\/posts\/267","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blogs.duanemorris.com\/bankinglaw\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blogs.duanemorris.com\/bankinglaw\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blogs.duanemorris.com\/bankinglaw\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/blogs.duanemorris.com\/bankinglaw\/wp-json\/wp\/v2\/comments?post=267"}],"version-history":[{"count":0,"href":"https:\/\/blogs.duanemorris.com\/bankinglaw\/wp-json\/wp\/v2\/posts\/267\/revisions"}],"wp:attachment":[{"href":"https:\/\/blogs.duanemorris.com\/bankinglaw\/wp-json\/wp\/v2\/media?parent=267"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blogs.duanemorris.com\/bankinglaw\/wp-json\/wp\/v2\/categories?post=267"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blogs.duanemorris.com\/bankinglaw\/wp-json\/wp\/v2\/tags?post=267"},{"taxonomy":"author","embeddable":true,"href":"https:\/\/blogs.duanemorris.com\/bankinglaw\/wp-json\/wp\/v2\/ppma_author?post=267"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}