PPP Extension of Limited Safe Harbor Interim Final Rule Summary
On the evening of May 8, 2020, the SBA released this ninth PPP Interim Final Rule (Rule). This Rule revises the interim final rule from April 24, 2020 (Interim Final Rule #4) by extending the date by which certain borrowers may repay their loans from May 7 to May 14, 2020, in order to take advantage of the limited safe harbor. 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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