Sec. 108. Increased ability for paycheck protection program borrowers to request an increase in loan amount due to updated regulations
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In this section, the terms covered loan and eligible recipient have the meanings given those terms in section 7(a)(36) of the Small Business Act ( 15 U.S.C. 636(a)(36) ). Notwithstanding the interim final rule issued by the Administration entitled Business Loan Program Temporary Changes; Paycheck Protection Program—Loan Increases (85 Fed. Reg. 29842 (May 19, 2020)), an eligible recipient of a covered loan that is eligible for an increased covered loan amount as a result of any interim final rule that allows for covered loan increases may submit a request for an increase in the covered loan amount even if— the initial covered loan amount has been fully disbursed; or the lender of the initial covered loan has submitted to the Administration a Form 1502 report related to the covered loan.
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- 85 FR 29842
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Sec. 108
Increased ability for paycheck protection program borrowers to request an increase in loan amount due to updated regulations
Fed. Reg.85 FR 29842
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