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Lender requirements for the Paycheck Protection Program under the CARES Act
03 April 2020
On Thursday, 2 April 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.
Read More: Lender requirements for the Paycheck Protection Program under the CARES Act
Authored by Ashley Hutto-Schultz, Aaron Cutler, Leslie (Les) B. Reese, III, Richard Schaberg, and Sara C. Lenet
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