Lender requirements for the Paycheck Protection Program under the CARES Act

3 April 2020

- Share by email
- Share on
- Twitter
- LinkedIn
- Get link
- Get QR Code
- Download
- Print

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.

Authored by Ashley Hutto-Schultz, Aaron Cutler, Leslie (Les) B. Reese, III, Richard Schaberg, and Sara C. Lenet

Contacts

Aaron Cutler
Partner
Washington, D.C.

Les Reese
Partner
Washington, D.C.

Richard Schaberg
Partner
Washington, D.C.

Sara Lenet
Partner
Washington, D.C.

Additional Resources

Interim Final Rule

Keywords PPP, Paycheck Protection Program, CARES Act

Languages English

Topics Federal Funding and Appropriations, COVID-19

Countries United States

This website is operated by Hogan Lovells International LLP, whose registered office is at Atlantic House, Holborn Viaduct, London, EC1A 2FG. For further details of Hogan Lovells International LLP and the international legal practice that comprises Hogan Lovells International LLP, Hogan Lovells US LLP and their affiliated businesses ("Hogan Lovells"), please see our Legal Notices page. © 2024 Hogan Lovells.

Attorney advertising. Prior results do not guarantee a similar outcome.

Lender requirements for the Paycheck Protection Program under the CARES Act

Delete Comment ?