On Thursday, April 2, 2020, the Small Business Administration (SBA) released the Interim Final Rule (Rule) under the CARES Act (Act) Paycheck Protection Program (PPP). Included in the Rule are the highly anticipated details about PPP lender eligibility requirements and underwriting guidelines. The Rule provides additional helpful information for prospective lenders, such as the fees that will be paid for processing PPP loans, loan terms and conditions, and information about selling the loans on the secondary market.
Please see full publication below for more information.
