SBA Issues New PPP Application Forms for Borrowers and Lenders | Practical Law
The Small Business Administration (SBA) issued new or revised Paycheck Protection Program (PPP) application forms for PPP borrowers and lenders. The new forms relate to an SBA interim final rule (IFR) that allows self-employed individuals to use gross income to calculate their PPP loan amount. The IFR also permits business owners who have a non-financial fraud felony conviction in the past year or are delinquent or in default on their Federal student loans to be eligible for PPP loans.