Sec. 3. Eligibility of franchises and 501(c)(6) organizations for the paycheck protection program
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501(c)(6) organizations for the paycheck protection program Section 7(a)(36)(D) of the Small Business Act ( 15 U.S.C. 636(a)(36)(D) ) is amended— in subparagraph (A)(vii), by striking section 501(c)(3) and inserting paragraph
(6)or
(3)of section 501(c) ; and in subparagraph (D)— in clause (iv)— in subclause (II), by striking and at the end; in subclause (III), by striking the period at the end and inserting ; and ; and by adding at the end the following new subclause: any business concern that is a franchisor or franchisee as described in clause (vii)(II). ; and by adding at the end the following new clause: 501(c)(6) organizations During the covered period, the following shall be eligible to receive a covered loan: Any organization that is described in section 501(c)(6) of the Internal Revenue Code and that is exempt from taxation under section 501(a) of such Code. Any business concern that is a franchisor or franchisee in a franchise (as defined in section 436.1(h) of title 16, Code of Federal Regulations), regardless of whether the franchise is assigned a franchise identifier code by the Administration, if the business concern employs not more than 500 employees per physical location of the business concern. .
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Sec. 3
Eligibility of franchises and 501(c)(6) organizations for the paycheck protection program
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