Paycheck Protection Program Revisions to Loan Forgiveness and Loan Review Rules

Updated 06/24/2020

On the evening of June 22, 2020, the SBA released this twentieth PPP Interim Final Rule (Rule) which revises Interim Final Rule on Loan Forgiveness (IFR #14, posted April 22, 2020) and Interim Final Rule on SBA Loan Review Procedures and Related Borrower and Lender Responsibilities (IFR #15, also posted April 22, 2020), by making conforming amendments consistent with the PPP Flexibility Act. As a whole, the Rule supplements implementation of sections 1102 and 1106 of the CARES Act, and the SBA requests public comment on all parts of the Rule, just as it has with all prior Interim Final Rules.

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