SBA Releases Rules on PPP Loans in Connection with December 2020 COVID-19 Relief Bill

On January 6, 2021, the Small Business Administration (SBA) released a new interim final rule in connection with the December 2020 omnibus spending bill (the December relief bill) that contained, among other items, significant revisions and additions to the Paycheck Protection Program (PPP) established by the Coronavirus Aid, Relief and Economic Security Act (CARES Act), and previously amended by the Paycheck Protection Program Flexibility Act (PPP Flexibility Act).

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