Sec. 217. Reapplication for and modification to paycheck protection program
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Not later than 7 days after the date of the enactment of this Act, the Administrator shall issue rules or guidance to ensure that an eligible recipient of a covered loan made under section 7(a)(36) of the Small Business Act ( 15 U.S.C. 636(a)(36) ) that returns amounts disbursed under such covered loan or does not accept the full amount of such covered loan for which such eligible recipient was approved— in the case of an eligible recipient that returned all or part of a covered loan, such eligible recipient may reapply for a covered loan for an amount equal to the difference between the amount retained and the maximum amount applicable; and in the case of an eligible recipient that did not accept the full amount of a covered loan, such eligible recipient may request a modification to increase the amount of the covered loan to the maximum amount applicable, subject to the requirements of such section 7(a)(36).
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Sec. 217
Reapplication for and modification to paycheck protection program
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