{"abstract":"This interim final rule implements changes related to the forgiveness of loans made under the Paycheck Protection Program (PPP), which was originally established under the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) to provide economic relief to small businesses nationwide adversely impacted by the Coronavirus Disease 2019 (COVID-19), as amended. SBA has issued a number of interim final rules implementing the PPP Program. This interim final rule further streamlines the forgiveness process for PPP loans of $150,000 or less by allowing lenders to use a COVID Revenue Reduction Score at the time of forgiveness to document the required revenue reduction for Second Draw PPP Loans, and establishing a direct borrower forgiveness process for lenders that choose to opt-in as an alternative method of processing loan forgiveness applications. This interim final rule also extends the loan deferment period for those PPP loans where the borrower timely files an appeal of a final SBA loan review decision with the SBA Office of Hearings and Appeals.","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/2021/07/30/2021-16358.html","cfr_references":[{"chapter":null,"citation_url":null,"part":120,"title":13}],"citation":"86 FR 40921","comment_url":null,"comments_close_on":null,"correction_of":null,"corrections":[],"dates":"Effective date: The provisions of this interim final rule are effective July 28, 2021.","disposition_notes":null,"docket_ids":["Docket Number SBA-2021-0015"],"dockets":[],"document_number":"2021-16358","effective_on":"2021-07-28","end_page":40927,"executive_order_notes":null,"executive_order_number":null,"explanation":null,"full_text_xml_url":"https://www.federalregister.gov/documents/full_text/xml/2021/07/30/2021-16358.xml","html_url":"https://www.federalregister.gov/documents/2021/07/30/2021-16358/business-loan-program-temporary-changes-paycheck-protection-program-covid-revenue-reduction-score","images":{},"images_metadata":{},"json_url":"https://www.federalregister.gov/api/v1/documents/2021-16358?publication_date=2021-07-30","mods_url":"https://www.govinfo.gov/metadata/granule/FR-2021-07-30/2021-16358/mods.xml","not_received_for_publication":null,"page_length":7,"page_views":{"count":13061,"last_updated":"2026-04-17 22:15:06 -0400"},"pdf_url":"https://www.govinfo.gov/content/pkg/FR-2021-07-30/pdf/2021-16358.pdf","presidential_document_number":null,"proclamation_number":null,"public_inspection_pdf_url":"https://public-inspection.federalregister.gov/2021-16358.pdf?1627503323","publication_date":"2021-07-30","raw_text_url":"https://www.federalregister.gov/documents/full_text/text/2021/07/30/2021-16358.txt","regulation_id_number_info":{"3245-AH79":{"issue":"202404","html_url":"https://www.federalregister.gov/regulations/3245-AH79/business-loan-program-temporary-changes-paycheck-protection-program-covid-revenue-reduction-score-di","title":"Business Loan Program Temporary Changes; Paycheck Protection Program--COVID Revenue Reduction Score, Direct Borrower Forgiveness Process, and Appeals Deferment","xml_url":"http://www.reginfo.gov/public/do/eAgendaViewRule?pubId=202404&RIN=3245-AH79&operation=OPERATION_EXPORT_XML","priority_category":"Section 3(f)(1) Significant"}},"regulation_id_numbers":["3245-AH79"],"regulations_dot_gov_info":{"supporting_documents":[],"regulatory_plan":{"html_url":"https://www.federalregister.gov/regulations/3245-AH79/business-loan-program-temporary-changes-paycheck-protection-program-covid-revenue-reduction-score-di","title":"Business Loan Program Temporary Changes; Paycheck Protection Program--COVID Revenue Reduction Score, Direct Borrower Forgiveness Process, and Appeals Deferment"},"comments_count":4,"agency_id":"SBA","comments_url":"https://www.regulations.gov/docketBrowser?rpp=50&so=DESC&sb=postedDate&po=0&dct=PS&D=SBA-2021-0015","supporting_documents_count":0,"docket_id":"SBA-2021-0015","document_id":"SBA-2021-0015-0001","regulation_id_number":"3245-AH79","title":"Business Loan Program Temporary Changes; Paycheck Protection Program – COVID Revenue Reduction Score, Direct Borrower Forgiveness Process, and Appeals Deferment","checked_regulationsdotgov_at":"2021-08-31T05:26:18Z"},"regulations_dot_gov_url":null,"significant":false,"signing_date":null,"start_page":40921,"subtype":null,"title":"Business Loan Program Temporary Changes; Paycheck Protection Program-COVID Revenue Reduction Score, Direct Borrower Forgiveness Process, and Appeals Deferment","toc_doc":"Paycheck Protection ProgramCOVID Revenue Reduction Score, Direct Borrower Forgiveness Process, and Appeals Deferment","toc_subject":"Business Loan Program Temporary Changes:\n","topics":[],"type":"Rule","volume":86}