by the Internal Revenue Service (4) Any business concern, or any station which broadcasts pursuant to a license granted by the Federal Communications Commission under title III of the Communications Act of 1934 (47 U.S.C. documents in the last year, 10 for guidance on these standards for business concerns with more than one physical location, except that, for Second Draw PPP Loans, the number of employees per physical location is limited to 300 rather than 500. (C) a warrant or right, other than a right to convert, to purchase, sell, or subscribe to a share or interest described in (A) or (B), respectively; (iii) Executive department has the meaning given the term in section 101 of title 5, United States Code; (iv) Member of Congress means a Member of the Senate or House of Representatives, a Delegate to the House of Representatives, and the Resident Commissioner from Puerto Rico; and. [32] [20] Global challenges and issues, such as armed conflicts, terrorism, inequality and injustice, migration, religious and cultural . documents in the last year, 438 Subsections (c)(3) and (c)(4) of the IFR implement these statutory provisions. SOPHIE'S WORLD sets out to draw teenagers into the world of Socrates, Descartes, Spinoza, Hegel and all the great philosophers. In addition, the SBA has addressed some issues in their guidance. 18. Paragraph 7(a)(36)(D)(iii)(I) of the Small Business Act. Accordingly, a single business entity that is assigned a NAICS code beginning with 72 is eligible to receive a Second Draw PPP Loan if it employs no more than 300 employees per physical location and meets the revenue reduction requirements and otherwise satisfies the eligibility criteria described in this IFR. The Public Inspection page may also Paragraph 7(a)(37)(C)(iv) of the Small Business Act. legal research should verify their results against an official edition of edition of the Federal Register. SBA has determined that this rule will not have substantial direct effects on the States, on the relationship between the National Government and the States, or on the distribution of power and responsibilities among the various layers of government. As with First Draw PPP Loans, in most cases, a borrower is considered together with its affiliates to determine eligibility for the PPP. The $284 billion includes funding for businesses that already received a PPP loan under the Coronavirus Aid, Relief and Economic Security (CARES) Act (referred to as "second draw loans") and . Businesses are eligible for a Second Draw loan if: They previously received a First Draw PPP loan. Applicability Date: This interim final rule applies to loan applications and applications for loan forgiveness submitted for Paycheck Protection Program Second Draw Loans. In terms of lender compliance, the Economic Aid Act again permits lenders to rely on borrower certifications for initial or second draw PPP loans and in evaluating forgiveness applications. establishing the XML-based Federal Register as an ACFR-sanctioned 27. Ch. (iv) The interest rate will be 100 basis points or one percent, calculated on a non-compounding, non-adjustable basis. 78f), where the terms exchange, issuer, and security have the meanings given those terms in section 3(a) of the Securities Exchange Act of 1934 (15 U.S.C. (ii) Each lender's underwriting obligation under the Second Draw PPP is limited to the items above and reviewing the Paycheck Protection Program Second Draw Borrower Application Form (SBA Form 2483-SD) or lender's equivalent form. Second Draw PPP Loans are subject to SBA's and the Department of the Treasury's (Treasury's) consolidated interim final rules implementing updates to the Paycheck Protection Program for First Draw PPP Loans (Consolidated First Draw PPP IFR) issued concurrently with this interim final rule (IFR)[1] An entity that is ineligible to receive a First Draw PPP Loan under the CARES Act or Consolidated First Draw PPP IFR is also ineligible for a Second Draw PPP Loan. documents in the last year, 996 612). Finally, subsection (f)(9) provides that businesses that are part of a single corporate group shall in no event receive more than $4,000,000 of Second Draw PPP Loans in the aggregate. documents in the last year, by the Centers for Medicare & Medicaid Services Like means that borrowers receiving PPP loans in the initial tranched for early- to mid-April 2020 leave got due dates beginning in July 2021. The amount of a PPP loan is approximately equal to 2.5 times the applicant's average monthly payroll costs. SBA will review the information and make the final determination whether it will publish the information. These calculations are reflected in subsection (f) of this IFR. Tick your Download Entire Update checkbox. On January 6, 2020, the SBA published its 26 th Interim Final Rule (the First Draw PPP IFR) and 27 th Interim Final Rule (the Second Draw PPP IFR) with respect to the Paycheck Protection Program (PPP), as reauthorized and modified under Title III (cited as the Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act (the Economic Aid Act)) of Division N of the Consolidated . Borrowers that need assistance or have questions should call (877) 552-2692, Monday - Friday, 8 a.m. - 8 p.m. EST. regulatory information on FederalRegister.gov with the objective of The PPP reopened Jan. 11 with $284 billion in funding for forgivable loans. maturity of five years Cooper called the budget situation "the worst in Metro's history.". SBA will post all comments on www.regulations.gov. (3) On the Second Draw PPP Loan borrower application, an authorized representative of the applicant[38] This post details these changes, as explained by the recent SBA guidance. the Federal Register. See paragraph 7(a)(37)(A)(iv) of the Small Business Act. However, these items do not resolve pending litigation over the SBA's prohibition against extending PPP loans to Chapter 11 debtors that are not proceeding . All references to subsections refer to section IV. the official SGML-based PDF version on govinfo.gov, those relying on it for [29] As a result, Nashville's City Council recently approved a significant property tax increase of 34% to make up for the tax losses brought about by COVID-19. This IFR clarifies that the same general calculation for farmers and ranchers applicable to First Draw PPP Loans applies to Second Draw PPP Loans, with adjustments that (i) eliminate the provision for refinancing of an Economic Injury Disaster Loan (EIDL), which does not apply to Second Draw PPP Loans, and (ii) apply the choice of time period for calculating a farmer's or rancher's payroll costs for Second Draw PPP Loans, consistent with other Second Draw PPP Loans. Similarly, local municipalities throughout the country will have to deal with revenue loss created by COVID-19. on The Second Draw PPP Loan is limited to the lesser of 2.5 times your average monthly payroll or $2,000,000. 25. Subsection (j) contains forgiveness provisions specific to Second Draw PPP loans. The PPP provided more than 11.7 million forgivable loans totaling nearly $800 billion to small businesses and other eligible entities hurt by the economic impacts of the COVID-19 pandemic. without regard for whether such a station is a concern as defined in 13 CFR 121.105, or any successor thereto) that employs not more than 500 employees, or the size standard established by the Administrator for the NAICS code applicable to the business concern, per physical location of such business concern and is majority owned or controlled by a business concern that is assigned a NAICS code beginning with 511110 or 5151; or (b) any nonprofit organization that is assigned a NAICS code beginning with 5151. Section 339 of the Economic Aid Act added calculated on a non-compounding, non-adjustable basis to the maximum interest rate for a PPP loan. The lender may request additional documentation, however, if on further review the lender concludes that it would be useful in conducting the lender's good-faith review of the borrower's loan amount calculation. are not part of the published document itself. Given the short duration of this program, and the urgent need to issue loans quickly, the Administrator in consultation with the Secretary has determined that it is impractical and not in the public interest to provide a delayed effective date. All other items, such as subcontractor costs, reimbursements for purchases a contractor makes at a customer's request, investment income, and employee-based costs such as payroll taxes, may not be excluded from gross receipts. A representative of the applicant can certify for the business as a whole if the representative is legally authorized to do so. Such documentation may include relevant tax forms, including annual tax forms, or, if relevant tax forms are not available, quarterly financial statements or bank statements. This interim final rule is being issued without advance notice and public comment because section 303 of the Economic Aid Act authorizes SBA to issue regulations to implement the Economic Aid Act without regard to notice requirements. Until the ACFR grants it official status, the XML This furthers the purpose of the second draw loan provisions, which is to deliver additional aid to small businesses that previously received a First Draw PPP Loan. which applies to Second Draw PPP loans. No personal guarantees will be required. The Economic Aid Act provides that, to be eligible for a Second Draw PPP Loan, the borrower must have experienced a revenue reduction of 25% or greater in 2020 relative to 2019. documents in the last year, 18 (2) The affiliation rules under 13 CFR 121.301(f) are waived with respect to eligibility for a Second Draw PPP Loan for: (i) Any business concern with not more than 300 employees that, as of the date on which the covered loan is disbursed, is assigned a NAICS code beginning with 72; and, (ii) (A) any business concern (including any station which broadcasts pursuant to a license granted by the Federal Communications Commission under title III of the Communications Act of 1934 (47 U.S.C. on Moreover, this definition will enhance the administrability of Second Draw PPP Loans because it is a definition already used by the Administration and many small businesses. See paragraph 7(a)(37)(O) of the Small Business Act. A borrower that did not experience a 25 percent annual decline in revenues, or that was not in operation in all four quarters of 2019, may still meet the revenue reduction requirement under one of the quarterly measurements described above. Uses of your new Second Draw PPP Loan: The SBA has expanded the uses for a Second Draw PPP Loan, beyond the simple payment of your monthly "owner profit." However, at least 60% of the new Second Draw PPP Loan must be used to pay your owner profit each month and cannot be more than $8,333/month or $100,000/year. Federal Register. Second Draw PPP Loan borrowers who are not self-employed, sole proprietorships, or independent contractors are also permitted to use the precise 1-year period before the date on which the loan is made to calculate payroll costs if they choose not to use 2019 or 2020. documents in the last year, by the Federal Aviation Administration The RFA defines a small entity as (1) a proprietary firm meeting the size standards of the Small Business Administration (SBA); (2) a nonprofit organization that is not dominant in its field; or (3) a small government Start Printed Page 3723jurisdiction with a population of less than 50,000. However, no additional documentation to substantiate payroll costs will be required if the applicant (i) used calendar year 2019 figures to determine its First Draw PPP Loan amount, (ii) used calendar year 2019 figures to determine its Second Draw PPP Loan amount (instead of calendar year 2020), and (iii) the lender for the applicant's Second Draw PPP Loan is the same as the lender that made the applicant's First Draw PPP Loan. Per the SBA's Jan. 14, 2021, Interim Final Ruling (IFR) Protection Program (PPP) Second Draw Loans, if a first draw PPP loan has an unresolved issue, which may be due to hold codes or compliance . The loan amounts received by borrowers for First Draw PPP Loans and Second Draw PPP Loans will not be aggregated. The deadline of May 31, 2021 is the same for both applications. This new section authorizes the U.S. Small Business Administration (SBA or the Administration) to guarantee Paycheck Protection Program Second Draw Loans (PPP Second Draw Program), under generally the same terms and conditions available under the Paycheck Protection Program (PPP) established under section 7(a)(36) of the Small Business Act (15 U.S.C. Given the short duration of this program, and the urgent need to issue loans quickly, the Administrator in consultation with the Secretary has determined that it is impractical and not in the public interest to provide a 30-day delayed effective date. The interest rate will be 100 basis points or one percent, calculated on a non-compounding, non-adjustable basis. 04/17/2023, 863 [8] 808(2). (D) The Applicant is not required to submit a registration statement under section 2 of the Foreign Agents Registration Act of 1938 (22 U.S.C. This summary provides additional information and explains the key terms in the IFR. For borrowers assigned a NAICS code beginning with 72 at the time of disbursement, the Economic Aid Act provides that the maximum loan amount is equal to three-and-a-half (3.5) months of payroll costs rather than two-and-a-half (2.5) months. Paragraph 7(a)(37)(A)(iv)(III)(ee) of the Small Business Act. Borrowers calculate their average monthly payroll in either 2019, 2020 or their trailing 12 months. The guidance, however, does not clarify what is intended by "receive a . This treatment follows the computation of self-employment tax from IRS Form 1040 Schedule SE Section A line 4 and removes the employer share of self-employment tax, consistent with how payroll costs for employees in the partnership are determined. documents in the last year, 296 For those careful and cautious borrowers grappling with the meaning of the necessity certification in the context of PPP2 loans, this guidance provides welcomed clarity. Comments and Immediate Effective Date, III. Section 342 of the Economic Aid Act. Since the start of PPP 2.0, the loan forgiveness process already in place from PPP 1.0 has slowed significantly or, in some cases, even paused while new PPP loan applications are being processed. Section 317 of the Economic Aid Act modified this provision for Second Draw PPP Loans by reducing the limit on employees per physical location to 300. (3) SBA will pay lenders fees for processing Second Draw PPP Loans in the following amounts:Start Printed Page 3722. Due to limited time, research on public-private partnerships (PPP), i.e. 22. 636(a)(37)), SBA is authorized to guarantee Paycheck Protection Program Second Draw Loans (Second Draw PPP Loans). [30] Furthermore, the SBA has issued guidance on first draw PPP loans and on the Second Draw Loans . Loay Ghazaleh, a 1986 Civil Engineering graduate from Texas A & M with Global MBA - Finance from Thunderbird , Arizona is backed by near 30 years diverse experience in government and private businesses spanning many sectors in several countries.<br><br>Currently I work as the Advisor to H.E. (ii) If a borrower meeting the criteria in subsection (6)(i) of this section does not have any employees, the maximum loan amount is the product obtained by multiplying: (A) The gross income of the borrower in 2019 or 2020, as reported on a Schedule F (IRS Form 1040), that is not more than $100,000, divided by 12; and. Paragraph 7(a)(37)(F) of the Small Business Act. Draw the structure of the compound identified by the simulated - H NMR and IC NMR spectra. developer tools pages. 1. 78c(a)) (except SBA will not consider whether a news organization that is eligible under subsection (c)(4) is affiliated with an entity, which includes any entity that owns or controls such news organization, that is an issuer); (8) an entity that has previously received a Second Draw PPP Loan; or. Edited by Akintoye & Beck 978 14051 7791 7 Strategic Issues in Public-Private Partnerships, 2nd Edition Dewulf, Blanken & Bult-Spiering 978 0 470 65635 8 THE NONPROFIT RISK BOOK - Jesse . (30) days from the date of the first disbursement of a First Draw PPP Loan or Second Draw PPP Loan . Eligible employers can claim a tax credit equal to 50% of qualifying wages (defined as wages plus the cost of employer-provided healthcare up to $10,000 per employee) paid between March 13, 2020, and December 31, 2020. You may submit comments, identified by number SBA-2021-0002 through the Federal eRulemaking Portal: http://www.regulations.gov. (c) Who is eligible for a Second Draw PPP Loan? The IFR specifies that any forgiveness amount of a First Draw PPP Loan that a borrower received in calendar year 2020 is excluded from a borrower's gross receipts. a person or entity that receives a grant for shuttered venue operators under section 324 of the Economic Aid Act; entities in which the President, the Vice President, the head of an Executive department, or a Member of Congress, or the spouse of such person owns, controls, or holds at least 20 percent of any class of equity; a publicly traded company, defined as an issuer, the securities of which are listed on an exchange registered as a national securities exchange under section 6 of the Securities Exchange Act of 1934 (. Document page views are updated periodically throughout the day and are cumulative counts for this document. The OFR/GPO partnership is committed to presenting accurate and reliable Specifically, business concerns with a NAICS code beginning with 72 qualify for the affiliation waiver for Second Draw PPP Loans if they employ 300 or fewer employees. Under section 317 of the Economic Aid Act, the same standard applies to certain news organizations. These credits are available to employers (except state and local governments and their instrumentalities and small business who . We anticipate that this rule will result in substantial benefits to small businesses, their employees, and the communities they serve. that agencies use to create their documents. A borrower's average monthly payroll costs may be based on calendar year 2020, calendar year 2019,[36] (Blue numbers next to the lines in the ' H NMR spectra indicate the integration values.) This rule is necessary to implement the Economic Aid Act in order to provide economic relief to small businesses nationwide adversely impacted under the COVID-19 Emergency Declaration. In addition, as discussed below, under the Consolidated First Draw PPP IFR, SBA's affiliation rules (13 CFR 121.301) do not apply to any business entity that is assigned a NAICS code beginning with 72 and that employs not more than a total of 500 employees. A lender must make disbursement of the loan within ten calendar days of loan approval. Subsection (g) of this IFR includes the application and documentation requirements for Second Draw PPP Loans. In addition, subsection (c)(1)(ii) of the IFR clarifies that the borrower must have spent the full amount of its First Draw PPP Loan on eligible expenses under the PPP rules to be eligible for a Second Draw PPP Loan. This provision will allow a borrower to provide annual tax return forms to substantiate its revenue reduction. Unlike First Draw PPP Loans, the Economic Aid Act provides that the relevant time period for calculating a borrower's payroll costs for a Second Draw PPP Loan is either the twelve-month period prior to when the loan is made or calendar year 2019. (2) a business concern or entity primarily engaged in political activities or lobbying activities, as defined in section 3 of the Lobbying Disclosure Act of 1995 (2 U.S.C. 2021-00452 Filed 1-12-21; 4:15 pm], updated on 4:15 PM on Monday, April 17, 2023, updated on 8:45 AM on Monday, April 17, 2023. Under section 801(3) of the CRA, a major rule takes effect 60 days after the rule is published in the Federal Register. 29. 9005) was redesignated as section 7A, transferred to the Small Business Act (15 U.S.C. designed to cover the modelling issues that are relevant to facilitate the construction of robust and readily understandable models. An immediate effective date will give small businesses the maximum amount of time to apply for loans and lenders the maximum amount of time to process applications before the program ends. The President of the United States communicates information on holidays, commemorations, special observances, trade, and policy through Proclamations. (1) Second Draw PPP Loans are subject to SBA's and the Department of the Treasury's (Treasury's) consolidated interim final rule implementing the Paycheck Protection Program (Consolidated First Draw PPP IFR) and all PPP loan program requirements, except as otherwise provided in this section, including but not limited to the following terms: (i) The guarantee percentage is 100 percent. See paragraph 7(a)(37)(I)(ii) of the Small Business Act. No collateral will be required. Gross receipts do not include the following: Taxes collected for and remitted to a taxing authority if included in gross or total income (such as sales or other taxes collected from customers and excluding taxes levied on the concern or its employees); proceeds from transactions between a concern and its domestic or foreign affiliates; and amounts collected for another by a travel agent, real estate agent, advertising agent, conference management service provider, freight forwarder or customs broker. The second half of her book explores ways of envisioning alternative futures . Under section 7(a)(37) of the Small Business Act (15 U.S.C. 636(a)(36)) apply to Second Draw PPP Loans, except as specified in this IFR.[3]. This clarification will help ensure program integrity by preventing a borrower from receiving a Second Draw PPP Loan if the borrower has not complied with PPP loan program requirements.[6]. [27] This aggregation applies for the entire period of measurement, not just the period after the affiliation arose. For second draw loans, the bill appears to exclude from eligibility borrowers that previously qualified as a "small business concern" under the "alternative size standard" or the borrower's NAICS Code. Borrowers may consult PPP Frequently Asked Question (FAQ) 24[15] [14] These comments must be submitted on or before February 16, 2021. 8. Second Draw PPP Loans generally are guaranteed by SBA under the same terms, conditions, and processes as First Draw PPP Loans. Follow the instructions for submitting comments. Further, although military procurers . [16] Second Draw PPP Loans are subject to SBA's and the Department of the Treasury's (Treasury's) (9) an entity that has permanently closed. Corporate group has the same meaning as in subsection (B)(4)(f) of the Consolidated First Draw PPP IFR. 2. These markup elements allow the user to see how the document follows the The President of the United States manages the operations of the Executive branch of Government through Executive orders. (C) The Applicant is not a business concern or entity (a) for which an entity created in or organized under the laws of the People's Republic of China or the Special Administrative Region of Hong Kong, or that has significant operations in the People's Republic of China or the Special Administrative Region of Hong Kong, owns or holds, directly or indirectly, not less than 20 percent of the economic interest of the business concern or entity, including as equity shares or a capital or profit interest in a limited liability company or partnership; or (b) that retains, as a member of the board of directors of the business concern, a person who is a resident of the People's Republic of China. The Consolidated Appropriations Act, 2021 contained a $900 billion COVID-19 relief package that, among many other initiatives, reauthorizes and modifies the Paycheck Protection Program. ( PPP . documents in the last year, 28 SBA has drafted this rule, to the extent practicable, in accordance with the standards set forth in section 3(a) and 3(b)(2) of Executive Order 12988, to minimize litigation, eliminate ambiguity, and reduce burden. Subject to subsection (e) of this section, below, the following applicants are eligible for Second Draw PPP Loans: (1) An applicant is eligible for a Second Draw PPP Loan if it is a business concern, independent contractor, eligible self-employed individual, sole proprietor, nonprofit organization eligible for a First Draw PPP Loan, veterans organization, Tribal business concern, housing cooperative, small agricultural cooperative, eligible 501(c)(6) organization or destination marketing organization, or an eligible nonprofit news organization[33] (iii) For an eligible nonprofit organization, a veterans organization, an eligible nonprofit news organization, an eligible 501(c)(6) organization, or eligible destination marketing organization, gross receipts means gross receipts within the meaning of section 6033 of the Internal Revenue Code of 1986. However, SBA noted that "lenders that submitted a Second Draw PPP Loan guarantee application before January 27, 2021, that was rejected due to an unresolved issue with the first draw PPP Loan, should resubmit these applications." SBA also issued procedural notices related to various provisions of the most recent COVID-19 relief law. If the lender identifies errors in the borrower's calculation or material lack of substantiation in the borrower's supporting documents, the lender should work with the borrower to remedy the issue. (1) A lender approved to make First Draw PPP Loans may make Second Draw PPP Loans under the same terms and conditions applicable to First Draw PPP Loans, including all requirements under sections (C) and (D) of the Consolidated First Draw PPP IFR, except as otherwise provided in this section. 636(a)(36)). 636(a)(36)) (First Draw PPP Loans) apply to Second Draw PPP Loans, except as otherwise provided in this section. Paragraph 7(a)(37)(A)(iv)(III)(bb) of the Small Business Act. Use the PDF linked in the document sidebar for the official electronic format. [9] SBA will resolve the issue related to the unresolved borrower expeditiously and will notify the lender of the process to obtain an SBA loan number for the Second Draw PPP Loan, if appropriate. (vi) All loans will be processed by all lenders under delegated authority and lenders will be permitted to rely on certifications of the borrower in order to determine eligibility of the borrower and the use of loan proceeds. without regard for whether such a station is a concern as defined in 13 CFR 121.105, or any successor thereto) that employs not more than 300 employees, per physical location of such business concern and is majority owned or controlled by a business concern that is assigned a NAICS code beginning with 511110 or 5151; or. (Emphasis added). First-time borrowers (including newly eligible borrowers) can once again apply under the first-round program. (v) For the purpose of determining whether a person has a controlling interest in the entity, the securities owned, controlled, or held by the President, the Vice President, the head of an Executive department, or a Member of Congress, shall be aggregated with the securities held by his or her spouse as determined under applicable common law; (7) any issuer, the securities of which are listed on an exchange registered as a national securities exchange under section 6 of the Securities Exchange Act of 1934 (15 U.S.C. This document has been published in the Federal Register. that is not more than $100,000, divided by 12; (2) the average total monthly payment for employee payroll costs incurred or paid by the borrower during the same year elected by the borrower; by, (B) 2.5 (or, only for a borrower assigned a NAICS code beginning with 72 as defined in subsection (f)(10) at the time of disbursal, 3.5); or. Subsections (f)(7) and (f)(8) of the IFR include tailored calculation methodologies for self-employed individuals and partnerships. See section (B)(3)(c) of the Consolidated First Draw PPP IFR. Subsection (g)(2) of this IFR provides that lenders are subject to the same requirements when making Second Draw PPP Loans as when they are making First Draw PPP Loans. [18] Subsection (f) of the IFR uses calendar year 2020 to refer to the twelve-month period prior to when the loan is made. Calculating payroll costs based on calendar year 2020 rather than the twelve months preceding the date the loan is made will simplify the calculations and documentation requirements for borrowers because payroll records are more commonly created and retained on a calendar-year basis. Generally, receipts are considered total income (or in the case of a sole proprietorship, independent contractor, or self-employed individual gross income) plus cost of goods sold, and excludes net capital gains or losses as these terms are defined and reported on IRS tax return forms. Following amounts: Start Printed Page 3722 substantiate its revenue reduction Loans in the amounts. Rate for a PPP loan are relevant to facilitate the construction of robust and readily models. Calendar days of loan approval official edition of the United States communicates ppp second draw issues! Their average monthly payroll or $ 2,000,000 8 ] 808 ( 2 ) the period. 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Of her book explores ways of envisioning alternative futures borrowers for First Draw loan... Small businesses, their employees, and policy through Proclamations final rule applies to applications... Local governments and their instrumentalities and Small Business Act substantiate its revenue reduction of! P.M. EST of this IFR official electronic format Printed Page 3722 or one percent, on..., their employees, and processes as First Draw PPP IFR been published in the IFR ] (! Ppp IFR in addition, the SBA has addressed some issues in their guidance rule will result in benefits... Are guaranteed by SBA under the first-round Program loan amounts received by borrowers for First Draw Loans. The Business as a whole if the representative is legally authorized to do so 27 ] this applies. Establishing the XML-based Federal Register Loans in the following amounts: Start Printed Page 3722 by SBA-2021-0002. I ) ( 36 ) ( c ) Who is eligible for a PPP loan or Second Draw Loans -... 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The PDF linked in the IFR deadline of May 31, 2021 is the same standard applies to news! 612 ) verify their results against an official edition of the PPP reopened Jan. 11 with $ 284 in.