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Code · BILL · 116th Congress · S. 4125 (Introduced in Senate) — To extend the paycheck protection program and to provide supplemental loans to recipients of loans under the paycheck... · Sec. 3

Sec. 3. Additional PPP loans

110 words·~1 min read·/bill/116/s/4125/is/section-3

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Section 7(a)(36) of the Small Business Act ( 15 U.S.C. 636(a)(36) ) is amended by adding at the end the following: An eligible recipient of a covered loan before the date of enactment of the Paycheck Protection Program Extension and Modification Act of 2020 may apply for and receive an additional loan in an amount equal to the covered loan, which shall be— used for allowable expenses in accordance with subparagraph (F); guaranteed under this paragraph in the same manner as a covered loan; and eligible for loan forgiveness in the same manner as a covered loan under section 1106 of the CARES Act ( 15 U.S.C. 9005 ). .
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Sec. 3
Additional PPP loans
U.S.C.§ 636
U.S.C.§ 9005
Cites 2Cited by 0 across 0 sources
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