223. Do the requirements for loan pledges under 13 CFR 120.434 apply to PPP loans pledged for borrowings from a Federal Reserve Bank (FRB) or advances by a Federal Home Loan Bank (FHLB)?

PPP 3. Requirements for Certain Pledges of PPP Loans

Effective Date: This rule is effective April 20, 2020.

Do the requirements for loan pledges under 13 CFR 120.434 apply to PPP loans pledged for borrowings from a Federal Reserve Bank (FRB) or advances by a Federal Home Loan Bank (FHLB)?

No. Pursuant to SBA regulations at 13 CFR 120.435(d) and (e), a pledge of 7(a) loans to a FRB or FHLB does not require SBA's prior written consent or notice to SBA. SBA, in consultation with Treasury, has determined that for purposes of loans made under the PPP, the additional requirements set forth in 120.434 shall also not apply. This would mean, for example, that SBA would not have to approve loan documents or require a multi-party agreement among SBA, the lender, and others.

Reference Resource:

Comment Date: Comments must be received on or before May 20, 2020.

To submit your comment on this topic here: SBA-2020-0020-0001

SBA Form 3502

Temporary Halt in Residential Evictions to Prevent the Further Spread of COVID-19 An unpublished Notice by the Centers for Disease Control and Prevention on 09/04/2020

Reconsideration of Declined Loan Applications SBA Economic Injury Disaster Loan (EIDL)

I made a mistake listing my revenue when I applied for the SBA EIDL, I would like reconsideration for the loan.

I applied and was accepted for an SBA loan but opted to take a lower amount once my loan was offered. How do I request the full amount of the first SBA loan that was offered?

8.2 LOAN DECREASE AND CANCELLATION

123.303 How can my business spend my economic injury disaster loan?

Disaster Unemployment Assistance is not managed by Tier 2 SBA agents.

IRS Stimulus check status. Check on the status of your Economic Impact Payment.

Paycheck Protection Program (PPP) Rule Changes and Public Comment links