{"abstract":"On April 2, 2020, the U.S. Small Business Administration (SBA) posted on its website an interim final rule relating to the implementation of sections 1102 and 1106 of the Coronavirus Aid, Relief, and Economic Security Act (CARES Act or the Act) (published in the Federal Register on April 15, 2020). Section 1102 of the Act temporarily adds a new product, titled the \"Paycheck Protection Program,\" to the U.S. Small Business Administration's (SBA's) 7(a) Loan Program. Subsequently, SBA issued a number of interim final rules implementing the Paycheck Protection Program. On June 5, 2020, the Paycheck Protection Program Flexibility Act of 2020 (Flexibility Act) was signed into law, amending the CARES Act. This interim final rule revises SBA's interim final rule published in the Federal Register on April 15, 2020, by changing key provisions, such as the loan maturity, deferral of loan payments, and forgiveness provisions, to conform to the Flexibility Act. SBA also is making conforming amendments to the use of PPP loan proceeds for consistency with amendments made in the Flexibility Act. Several of these amendments are retroactive to the date of enactment of the CARES Act, as required by section 3(d) of the Flexibility Act.","action":"Interim final rule.","agencies":[{"raw_name":"SMALL BUSINESS ADMINISTRATION","name":"Small Business Administration","id":468,"url":"https://www.federalregister.gov/agencies/small-business-administration","json_url":"https://www.federalregister.gov/api/v1/agencies/468","parent_id":null,"slug":"small-business-administration"}],"body_html_url":"https://www.federalregister.gov/documents/full_text/html/2020/06/16/2020-12909.html","cfr_references":[{"chapter":null,"citation_url":null,"part":120,"title":13}],"citation":"85 FR 36308","comment_url":null,"comments_close_on":null,"correction_of":null,"corrections":[],"dates":"Effective Dates: The provisions in this interim final rule related to loan forgiveness and deferral periods for PPP loans are effective March 27, 2020. The provision in this interim final rule relating to the maturity date of PPP loans is effective June 5, 2020. The remaining provisions in this interim final rule are effective June 12, 2020.","disposition_notes":null,"docket_ids":["Docket No. SBA-2020-0035"],"dockets":[],"document_number":"2020-12909","effective_on":"2020-03-27","end_page":36312,"executive_order_notes":null,"executive_order_number":null,"explanation":null,"full_text_xml_url":"https://www.federalregister.gov/documents/full_text/xml/2020/06/16/2020-12909.xml","html_url":"https://www.federalregister.gov/documents/2020/06/16/2020-12909/business-loan-program-temporary-changes-paycheck-protection-program-revisions-to-first-interim-final","images":{},"images_metadata":{},"json_url":"https://www.federalregister.gov/api/v1/documents/2020-12909?publication_date=2020-06-16","mods_url":"https://www.govinfo.gov/metadata/granule/FR-2020-06-16/2020-12909/mods.xml","not_received_for_publication":null,"page_length":5,"page_views":{"count":28592,"last_updated":"2026-04-17 22:15:06 -0400"},"pdf_url":"https://www.govinfo.gov/content/pkg/FR-2020-06-16/pdf/2020-12909.pdf","presidential_document_number":null,"proclamation_number":null,"public_inspection_pdf_url":"https://public-inspection.federalregister.gov/2020-12909.pdf?1591974913","publication_date":"2020-06-16","raw_text_url":"https://www.federalregister.gov/documents/full_text/text/2020/06/16/2020-12909.txt","regulation_id_number_info":{"3245-AH49":{"issue":"202404","html_url":"https://www.federalregister.gov/regulations/3245-AH49/business-loan-program-temporary-changes-paycheck-protection-program-revisions-to-first-interim-final","title":"Business Loan Program Temporary Changes; Paycheck Protection Program--Revisions to First Interim Final Rule","xml_url":"http://www.reginfo.gov/public/do/eAgendaViewRule?pubId=202404&RIN=3245-AH49&operation=OPERATION_EXPORT_XML","priority_category":"Section 3(f)(1) Significant"}},"regulation_id_numbers":["3245-AH49"],"regulations_dot_gov_info":{"supporting_documents":[],"regulatory_plan":{"html_url":"https://www.federalregister.gov/regulations/3245-AH49/business-loan-program-temporary-changes-paycheck-protection-program-revisions-to-first-interim-final","title":"Business Loan Program Temporary Changes; Paycheck Protection Program--Revisions to First Interim Final Rule"},"comments_url":"https://www.regulations.gov/docketBrowser?rpp=50&so=DESC&sb=postedDate&po=0&dct=PS&D=SBA-2020-0035","supporting_documents_count":0,"docket_id":"SBA-2020-0035","regulation_id_number":"3245-AH49","title":"Business Loan Program Temporary Changes; Paycheck Protection Program – Revisions to First Interim Final Rule","checked_regulationsdotgov_at":"2020-07-19T08:30:07Z"},"regulations_dot_gov_url":null,"significant":false,"signing_date":null,"start_page":36308,"subtype":null,"title":"Business Loan Program Temporary Changes; Paycheck Protection Program-Revisions to First Interim Final Rule","toc_doc":"Paycheck Protection ProgramRevisions to First Interim Final Rule","toc_subject":"Business Loan Program Temporary Changes:\n","topics":[],"type":"Rule","volume":85}