{"id":962,"date":"2021-01-12T18:28:26","date_gmt":"2021-01-12T22:28:26","guid":{"rendered":"http:\/\/blogs.duanemorris.com\/coronaviruscovid19\/?p=962"},"modified":"2021-01-12T18:28:26","modified_gmt":"2021-01-12T22:28:26","slug":"business-loan-program-changes-and-ppp-first-draw-loan-terms-as-amended-by-economic-aid-act","status":"publish","type":"post","link":"https:\/\/blogs.duanemorris.com\/coronaviruscovid19\/2021\/01\/12\/business-loan-program-changes-and-ppp-first-draw-loan-terms-as-amended-by-economic-aid-act\/","title":{"rendered":"Business Loan Program Changes and PPP First-Draw Loan Terms as Amended by Economic Aid Act"},"content":{"rendered":"<p>On January 6, 2021, the Treasury Department\u00a0<a title=\"Business Loan Program Temporary Changes; Paycheck Protection Program as Amended by Economic Aid Act\" href=\"https:\/\/home.treasury.gov\/system\/files\/136\/PPP-IFR-Paycheck-Protection-Program-as-Amended-by-Economic-Aid-Act.pdf\" target=\"_blank\" rel=\"noopener\">released<\/a> an interim final rule discussing changes to the Business Loan Program and the Paycheck Protection Program (PPP) as amended by the Economic Aid to Hard-Hit Small Businesses, Nonprofits and Venues Act (Economic Aid Act) signed into law on December 27, 2020. The interim final rule covers a variety of topics, primarily summarizing changes made to the PPP loan program in the text of the Economic Aid Act and restating the regulations issued pursuant to the CARES Act and Paycheck Protection Program Flexibility Act.<\/p>\n<p>To read the full text of this Duane Morris Alert, which outlines the key takeaways from the interim final rule and provides a list of the changes that will affect both PPP borrowers and PPP lenders following passage of the Economic Aid Act, please <a href=\"https:\/\/www.duanemorris.com\/alerts\/business_loan_program_changes_ppp_first_draw_terms_amended_economic_aid_act_0121.html\" target=\"_blank\" rel=\"noopener\">visit the firm website<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>On January 6, 2021, the Treasury Department\u00a0released an interim final rule discussing changes to the Business Loan Program and the Paycheck Protection Program (PPP) as amended by the Economic Aid to Hard-Hit Small Businesses, Nonprofits and Venues Act (Economic Aid Act) signed into law on December 27, 2020. The interim final rule covers a variety &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/blogs.duanemorris.com\/coronaviruscovid19\/2021\/01\/12\/business-loan-program-changes-and-ppp-first-draw-loan-terms-as-amended-by-economic-aid-act\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Business Loan Program Changes and PPP First-Draw Loan Terms as Amended by Economic Aid Act&#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":[289,380,379,408,1064],"ppma_author":[1043],"class_list":["post-962","post","type-post","status-publish","format-standard","hentry","category-general","tag-cares-act","tag-loan","tag-paycheck-protection-program","tag-ppp","tag-second-draw-loans"],"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","author_category":"1","last_name":"Sullivan","first_name":"Margaret","job_title":"","user_url":"http:\/\/www.duanemorris.com","description":"<a href=\"http:\/\/www.duanemorris.com\">Visit the Duane Morris website.<\/a>"}],"_links":{"self":[{"href":"https:\/\/blogs.duanemorris.com\/coronaviruscovid19\/wp-json\/wp\/v2\/posts\/962","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=962"}],"version-history":[{"count":0,"href":"https:\/\/blogs.duanemorris.com\/coronaviruscovid19\/wp-json\/wp\/v2\/posts\/962\/revisions"}],"wp:attachment":[{"href":"https:\/\/blogs.duanemorris.com\/coronaviruscovid19\/wp-json\/wp\/v2\/media?parent=962"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blogs.duanemorris.com\/coronaviruscovid19\/wp-json\/wp\/v2\/categories?post=962"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blogs.duanemorris.com\/coronaviruscovid19\/wp-json\/wp\/v2\/tags?post=962"},{"taxonomy":"author","embeddable":true,"href":"https:\/\/blogs.duanemorris.com\/coronaviruscovid19\/wp-json\/wp\/v2\/ppma_author?post=962"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}