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Publications | May 29, 2020
3 minute read

Small Business Administration Issues Interim Final Rule Related to SBA’s PPP Loan Review Process and Lender Obligations

On Friday, May 22, 2020, the Small Business Administration (SBA) and Department of Treasury issued a Lender Interim Final Rule (Lender IFR) that explains the SBA’s process for reviewing PPP loans and provides direction on certain PPP lender responsibilities associated with loan forgiveness. The Lender IFR was issued in conjunction with a Borrower Interim Final Rule (Borrower IFR) outlining borrower obligations related to loan forgiveness. The Lender IFR provides the following:

SBA Review Process 

    Loan Forgiveness Process for Lenders 

      The rules surrounding PPP loans are complex and business specific. If you have concerns about the rules, please contact Ford Turrell, Timothy Hillegonds, Rob Davies, Matthew Crowe, Charlie Goode, Jeffrey Ott or your Warner attorney.