APA Advisory - SBA Issues New PPP Guidance

January 11, 2021

TO:             , 

Interim Final Rules and Guidance Issued for 1st and 2nd Draw PPP Loans

As reported in APA’s December 29, Advisory, the COVID / Omnibus package was signed by the President and we’ve been awaiting guidance on the new paycheck protection program (PPP) loan program. 

On late Friday, January 8th, Treasury and the Small Business Administration (SBA) released the new PPP guidance and applications,

The guidance includes the following:

-       First Draw Guidance 
-       Second Draw Guidance
-       Revised Lender Application
-       Second Draw Lender Application
-       Lender Application for Federally Insured Depository Institutions, Insured credit Unions and Farm Credit System Institutions
-       Lender Application for Non-Bank and Non-Insured Depository Institutions

This new information is in addition to PPP guidance issued earlier last week implementing the regenerated PPP loan program included in the Consolidated Appropriations Act signed by the President on December 27, which includes the following:

-      PPP Guidance from SBA Administration Carranza on Accessing Capital for Minority, Underserved, Veteran, and Women-owned Business Concerns 

-       Interim Final Rule on Paycheck Protection Program as Amended by Economic Aid Act 

-       Interim Final Rule on Second Draw PPP Loans

During APA’s upcoming virtual Winter Educational Conference,Feb. 2-4,  there will be a session covering PPP loan changes, forgiveness, and the employer retention credit presented by APA’s accounting firm, BDO. Click here to register – early rates end January 15.

In the interim, Dr. Rafael Marrero, CEO of Rafael Marrero & Co., a business that specializes in business-to-government management solutions, is offering a free webinar tomorrow, January 12 from 1:00 – 1:40 pm (EST) providing insights on the new round of PPP stimulus. Learn more about the webinar or register by clicking here.

We will continue to keep the membership appraised of any further developments. 


Advisory #2021-02