Paycheck Protection Program Loans

Paycheck Protection Program Loans Information

On Friday, March 27, 2020, President Trump enacted the Paycheck Protection Program (PPP), which will allow banks to issue SBA forgivable loans to small businesses that can attest to suffering economic hardship as a result of the COVID-19 crisis. The MBA will regularly update this page with the latest information pertaining to PPP loans as we receive it or produce it.

(3/22) 50 State Letter to SBA on PPP Forgiveness Delays and Issues

(12/14) ICBA and State Associations Letter to Congressional Leadership on EIDL Advance Problem & PPP Loans

(12/9) 50 State Letter to Congressional Leadership on TDR Extension

(11/24) United States District Court for the District of Columbia Ruling Requiring SBA to Release All PPP Borrower Information

(10/7) MBA Letter to Treasury on Simplified PPP Forgiveness

(9/16) ICBA and State Associations Letter to Congressional Leadership on PPP Forgiveness

(9/11) ABA and State Associations Letter to Congress on Simplified PPP Forgiveness Process

(7/31) ABA and State Associations Letter to Treasury and SBA on Agent Fees

(7/31) ABA and 50 State Associations Letter to House Leadership on HR 7777, the PPP Small Business Forgiveness Act

(7/28) Congressman Palazzo Letter to House Leadership on COVID-19 Relief and PPP

(7/9) 50 State Letter in Support of S.4117, PPP Small Business Forgiveness Act

(6/12) Bipartisan Senate PPP Letter to Treasury and SBA on PPP EZ Forgiveness

(6/3) Bipartisan House PPP Letter to Treasury and SBA on PPP EZ Forgiveness

(6/2) Mississippi Trade Association PPP EZ Letter

(5/28) Congressional Letter to Treasury and SBA on PPP Forgiveness

(5/27) 50 State Letter on PPP Forgiveness

(5/27) ICBA Multistate PPP Letter

(5/8) MS House Delegation PPP Loan Forgiveness Letter

(5/6) CFPB Notice Clarifying Adverse Action Notices on PPP Loans

(4/22) ABA Urges House Leadership to Support PPP Funding

PPP Funding Increase Bill Text

PPP Funding Increase Summary

(4/15) State Bankers Association Letter Supporting Additional PPP Funding

(4/3) PPP MBA Press Release

(4/9) PPP MBA Press Release -MS Banks Continue to Assist Customers
(4/14) MBA Press Release-SBA Releases PPP Data
(3/29) PPP Loan Q&A Mem o to Trade Associations

ICBA PPP Loan FAQs
ABA Executive Summary CARES Act

(5/27) ABA FAQs on PPP - updated July 15, 2020
CARES Act Small Business Assistance Fact Sheet

DBCF Legal Lending Limit for PPP Loans Guidance

New SBA Resources for Changes to Loan Amount Calculation for Schedule C Filers

(3/4) SBA Webinar Slides on IFR on Revisions to Loan Amount Calculation for Schedule C Filers

(3/3) SBA IFR on PPP Revisions to Loan Amount Calculation and Eligibility Implementing Biden Executive Order Changes

(3/3) SBA Updated PPP FAQs - updated 3/3

(3/3) New First Draw Application Form - revised 3/18

(3/3) New Second Draw Application Form - revised 3/18

(3/3) First Draw Schedule C Gross Income Form - revised 3/18

(3/3) Second Draw Schedule C Gross Income Form - revised 3/18

(3/3) Lender's Application for First Draw PPP Loan Guaranty - revised 3/18

(3/3) Lender's Application for Second Draw PPP Loan Guaranty - revised 3/18

US Treasury, SBA, and IRS Resources:

(7/28) SBA Interim Final Rule on PPP COVID-19 Reduction Score and Direct Borrower Forgiveness Process

(7/15) SBA Procedural Notice on Lenders Applying for SBA to Purchase and Charge Off PPP Loans

(4/20) SBA Procedural Notice Implementing PPP Extension Act

(3/18) SBA IFR on PPP Changes Made By American Rescue Plan Act

(2/10) SBA Revised Procedural Notice on PPP Procedures for Addressing Hold Codes and Compliance Check Error Messages

(2/8) SBA Notice on Updates to Lender Processing Fees

(2/8) SBA Notice on EIDL Advance Reconciliation Payments

(1/27) SBA FAQs on Shuttered Venue Operators Grants and Interaction with PPP

(1/26) Resolving First Draw PPP Loan Hold Codes User Guide

(1/26) SBA Hold Codes Clearing - Documentation List

(1/26) SBA Slide Deck Platform Procedures for Resolving Hold Codes

(1/26) SBA Procedural Notice on Platform Procedures for Addressing Unresolved Issues

(1/21) SBA Borrower Disclosure of Certain Controlling Interests

(1/19) SBA PPP Simplified Forgiveness Form with Instructions and Checklist

(1/19) SBA IFR on Business Loan Program Temporary Changes; PPP - Loan Forgiveness Requirements and Loan Review Procedures

(1/19) SBA PPP FAQs - updated 1/29

(1/17) PPP Calculating Maximum Loan Amounts

(1/15) SBA Procedural Notice on PPP Forgiveness

(1/15) SBA Procedural Notice on PPP Excess Loan Amount Errors

(1/11) Ask the Fed Webinar Presentation on Basics of New PPP Loan Programs

(1/8) SBA Press Release Announcing Reopening of PPP

(1/8) SBA PPP Second Draw Borrower Application Form

(1/8) SBA PPP Second Draw Lender Application Form

(1/8) SBA PPP Borrower Application Form (Form 2483)

(1/8) SBA Lender Application Form - PPP Loan Guaranty

(1/8) SBA Top-Line Overview of First Draw PPP Loans

(1/8) SBA Top-Line Overview of Second Draw PPP Loans

(1/10) SBA PPP Lender Instructions - API Technical Information

(1/10) SBA PPP Lender Instructions - Origination System User Guide

(1/8) SBA Procedural Notice on Repeal of EIDL Advance Deduction

(1/6) SBA Procedural Notice on Modifications to SBA Forms 3506, 3507, and 750 CA (for purposes of PPP only)

(1/6) SBA IFR on Second Draw PPP Loans

(1/6) SBA IFR Amending PPP Rules

(1/6) SBA Guidance on Accessing Capital for Minority, Underserved, Veteran, and Women-Owned Business Concerns

(1/6) IRS Guidance Making PPP Expenses Deductible

((12/8) SBA PPP Myth vs. Fact

(10/8) Interim Final Rule on Simpler Forgiveness Process for Loans of $50,000 or Less

(10/8) Simpler PPP Forgiveness Application Instructions

(10/8) Simpler PPP Forgiveness Application for Loans of $50,000 or Less

(10/8) PPP Forgiveness Payment Notification

(10/7) Updated PPP FAQs - Updated 10/7

(10/2) SBA Procedural Notice on PPP Loans and Changes of Ownership

(9/3) Ask the Fed Webinar on Basics of PPP Loan Forgiveness and SBA PPP Loan Forgiveness Platform Materials

(9/3) Ask the Fed Webinar Recording on PPP Loan Forgiveness

(8/25) Interim Final Rule on Treatment of Owners and Forgiveness of Certain Nonpayroll Costs

(8/11) Interim Final Rule on Appeals of SBA Loan Review Decisions under the PPP

Treasury PPP FAQs - updated 8/11

SBA FAQs on PPP Loan Forgiveness - updated (8/11)

SBA PPP Forgiveness Platform User Guide with Lender Instructions

(8/4) SBA PPP Forgiveness Platform One-Pager

(8/4) SBA FAQs on PPP Loan Forgiveness

(7/23) SBA Procedural Notice on Forgiveness

(7/13) SBA Procedural Notice for Form 1502

(6/22) Interim Final Rule on Revisions to PPP Loan Forgiveness and SBA Loan Review Procedures

(6/19) SBA Procedural Notice on Refinancing EIDL Loans through PPP Loans

(6/17) PPP Loan Forgiveness Application Form 3508

(6/17) PPP Loan Forgiveness Application Form 3508 Instructions

(6/17) Simplified PPP Loan Forgiveness Application Form 3508EZ Instructions

(6/17) PPP Loan Forgiveness Application Form 3508EZ

(6/17) Interim Final Rule Revising Previous IFRs to Conform with PPP Flexibility Act

(6/10) Interim Final Rule on PPP Flexibility Act Changes to PPP

(6/8) SBA & Treasury Joint Statement on PPP Flexibility Act

(6/8) SBA PPP Report - updated (6/6)

(6/5) Interim Final Rule on Eligibility of Certain Telephone Cooperatives

(6/4) COLSON - Lender's Self-Service Guide to Track PPP Lender Processing Fee Payments

(5/22) Interim Final Rule on PPP Loan Forgiveness

(5/22) Interim Final Rule on SBA Loan Review Procedures and Related Borrower and Lender Responsibilities

(5/21) SBA Procedural Notice on Form 1502 PPP Loan Reporting

(5/18) Interim Final Rule on Treatment of Entities with Foreign Affiliates

(5/15) PPP Loan Forgiveness Calculation Application

(5/14) Interim Final Rule on Eligibility of Certain Electric Cooperatives

(5/13) Interim Final Rule Clarifying Previous IFRs on PPP Loan Increases

(5/1) SBA Notice on Whole Loans Sales of PPP Loans

(4/30) Interim Final Rule on Corporate Groups and Non-Bank Lenders

(4/28) Interim Final Rule on PPP Disbursements

(4/27) Interim Final Rule on Additional Criterion for Seasonal Employers

(4/24) Guidance on How to Calculate PPP Loan Amounts

(4/24) SBA Guidance on Participation Sales for PPP Loans

(4/24) Interim Final Rule on Requirements for Promissory Notes, Authorizations, Affiliations, and Eligibility

SBA New Release on PPP Stats - MS Lenders

Homepage-Assistance for Small Businesses

SBA PPP Interim Final Rule - updated 4/8

SBA PPP Interim Final Rule on Affiliation - updated 4/8

SBA PPP Interim Final Rule on Eligibility Criteria and Requirements for Independent Contractors and Businesses Owned by Directors or Shareholders

Rules for Affiliates - updated 4/3
PPP-Overview
Borrower Paycheck Protection Program Application (v3)--updated 4/3
PPP New Lender Application Form
PPP Lender Application Form
PPP Borrower Information Fact Sheet
PPP Lender Information Fact Sheet

PPP Promissory Note --posted 4/8
SBA PPP Data (4/14)

Federal Regulator Resources:

(4/24) FDIC FAQ on PPP Loans

Accessing the PPP Lending Facility

(4/9) Summary Sheet on Federal Reserve PPP Lending Facility

Interagency Interim Final Rule on PPP Lending Facility and PPP Loans

Federal Reserve FAQs for New PPP Lending Facility

News