# Business Loan Program Temporary Changes; Paycheck Protection Program-Requirements-Loan Forgiveness
> **US Small Business Administration** · Interim final rule. · Published 2020-06-01 · Effective 2020-05-28 · 85 FR 33004
## Document
- **Document number:** 2020-11536
- **Category:** final-rule
- **Agency:** US Small Business Administration
- **Federal Register citation:** 85 FR 33004
- **CFR reference:** 13 CFR 120
- **Publication date:** 2020-06-01
- **Effective date:** 2020-05-28
- **Docket:** Docket Number SBA-2020-0032
## Abstract

On April 2, 2020, the U.S. Small Business Administration (SBA) posted an interim final rule announcing the implementation of the Coronavirus Aid, Relief, and Economic Security Act (CARES Act). The CARES Act temporarily adds a new program, titled the "Paycheck Protection Program," to the SBA's 7(a) Loan Program. The CARES Act also provides for forgiveness of up to the full principal amount of qualifying loans guaranteed under the Paycheck Protection Program (PPP). The PPP is intended to provide economic relief to small businesses nationwide adversely impacted by the Coronavirus Disease 2019 (COVID-19). SBA posted additional interim final rules on April 3, 2020, April 14, 2020, April 24, 2020, April 28, 2020, April 30, 2020, May 5, 2020, May 8, 2020, May 13, 2020, May 14, 2020, May 18, 2020, and May 20, 2020, and the Department of the Treasury (Treasury) posted an additional interim final rule on April 27, 2020. This interim final rule supplements the previously posted interim final rules in order to help PPP borrowers prepare and submit loan forgiveness applications as provided for in the CARES Act, help PPP lenders who will be making the loan forgiveness decisions, inform borrowers and lenders of SBA's process for reviewing PPP loan applications and loan forgiveness applications, and requests public comment.

## Source
- [Federal Register document](https://www.federalregister.gov/documents/2020/06/01/2020-11536/business-loan-program-temporary-changes-paycheck-protection-program-requirements-loan-forgiveness)
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