{"id":449,"date":"2020-04-17T15:00:19","date_gmt":"2020-04-17T19:00:19","guid":{"rendered":"http:\/\/blogs.duanemorris.com\/coronaviruscovid19\/?p=449"},"modified":"2020-08-31T16:12:40","modified_gmt":"2020-08-31T20:12:40","slug":"sbas-interim-final-rule-clarifies-paycheck-protection-program-loan-eligibility-requirements","status":"publish","type":"post","link":"https:\/\/blogs.duanemorris.com\/coronaviruscovid19\/2020\/04\/17\/sbas-interim-final-rule-clarifies-paycheck-protection-program-loan-eligibility-requirements\/","title":{"rendered":"SBA&#8217;s Interim Final Rule Clarifies Paycheck Protection Program Loan Eligibility Requirements"},"content":{"rendered":"<p>On April 14, 2020, the Small Business Administration (SBA)\u00a0<a title=\"Business Loan Program Temporary Changes; Paycheck Protection Program\" href=\"https:\/\/www.federalregister.gov\/documents\/2020\/04\/15\/2020-07672\/business-loan-program-temporary-changes-paycheck-protection-program\" target=\"_blank\" rel=\"noopener noreferrer\">released<\/a>\u00a0an additional interim final rule applicable to Paycheck Protection Program (PPP) loans. The interim final rule covers eligibility criteria for self-employed individuals and partnerships, as well as clarifications for businesses affiliated with a PPP lender and businesses operating in the legal gaming industry. However, many of the concepts addressed in the interim final rule are also applicable to all loan applicants and the use of PPP loans in general.\u00a0<i>Note<\/i>: Although the PPP funds have run out, Congress is discussing adding more money.<\/p>\n<p>To read the full text of this Duane Morris <em>Alert<\/em>, please <a href=\"https:\/\/www.duanemorris.com\/alerts\/sba_interim_final_rule_clarifies_paycheck_protection_program_loan_eligibility_requirements_0420.html\" target=\"_blank\" rel=\"noopener noreferrer\">visit the firm website<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>On April 14, 2020, the Small Business Administration (SBA)\u00a0released\u00a0an additional interim final rule applicable to Paycheck Protection Program (PPP) loans. The interim final rule covers eligibility criteria for self-employed individuals and partnerships, as well as clarifications for businesses affiliated with a PPP lender and businesses operating in the legal gaming industry. However, many of the &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/blogs.duanemorris.com\/coronaviruscovid19\/2020\/04\/17\/sbas-interim-final-rule-clarifies-paycheck-protection-program-loan-eligibility-requirements\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;SBA&#8217;s Interim Final Rule Clarifies Paycheck Protection Program Loan Eligibility Requirements&#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":[427,264,379,408,263,945,262],"ppma_author":[1043],"class_list":["post-449","post","type-post","status-publish","format-standard","hentry","category-general","tag-gaming","tag-loans","tag-paycheck-protection-program","tag-ppp","tag-sba","tag-small-business","tag-u-s-small-business-administration"],"authors":[{"term_id":1043,"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\/coronaviruscovid19\/wp-json\/wp\/v2\/posts\/449","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blogs.duanemorris.com\/coronaviruscovid19\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blogs.duanemorris.com\/coronaviruscovid19\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blogs.duanemorris.com\/coronaviruscovid19\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/blogs.duanemorris.com\/coronaviruscovid19\/wp-json\/wp\/v2\/comments?post=449"}],"version-history":[{"count":0,"href":"https:\/\/blogs.duanemorris.com\/coronaviruscovid19\/wp-json\/wp\/v2\/posts\/449\/revisions"}],"wp:attachment":[{"href":"https:\/\/blogs.duanemorris.com\/coronaviruscovid19\/wp-json\/wp\/v2\/media?parent=449"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blogs.duanemorris.com\/coronaviruscovid19\/wp-json\/wp\/v2\/categories?post=449"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blogs.duanemorris.com\/coronaviruscovid19\/wp-json\/wp\/v2\/tags?post=449"},{"taxonomy":"author","embeddable":true,"href":"https:\/\/blogs.duanemorris.com\/coronaviruscovid19\/wp-json\/wp\/v2\/ppma_author?post=449"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}