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SBA and Department of Treasury Announce Interim Final Rule

The U.S. Small Business Administration (SBA) and U.S. Department of Treasury released an interim final rule on Temporary Changes to the Business Loan Program under the Paycheck Protection Program (PPP). The interim rule provides borrowers and lenders guidance on requirements governing the forgiveness of PPP loans.

“This rule is being issued to allow for immediate implementation of the forgiveness component of this program. Although this interim final rule is effective immediately, comments are solicited from interested members of the public on all aspects of this interim final rule.”

To read the interim rule, click here.