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SBA and Treasury Announce PPP Re-Opening; Issue New Guidance

By Laurie Baskin posted 01-09-2021 11:49


This announcement just released today from the SBA:


The U.S. Small Business Administration (SBA), in consultation with the U.S. Department of Treasury, has issued new guidance concerning the start of the Paycheck Protection Program "second draw" loan program ($284.45 billion) on January 11, 2021. The application deadline is March 31, 2021. Along with the announcement of the start of the program are interim final rules, effective immediately and applicable to the "second draw" loans and "first draw" loans not yet forgiven by the SBA. Eligible entities will again work with their participating financial institutions in the program. The SBA also issued guidance concerning increasing access to PPP for minority, underserved, veteran, and women-owned businesses.

No date has yet been announced for the start of the Save Our States grant program ($15 billion) to support "live performing arts organization operators". The SBA is currently drafting regulations and guidance, potentially interim final rules like the PPP guidance that become effective immediately. Eligible entities will apply directly to the SBA via its portal or through Please note that the SOS grant program is new, unlike the PPP program and so it will take the SBA a little while longer to get it up and running. PLEASE MAKE SURE YOU HAVE REGISTERED FOR, AND IT IS UPDATED AND READY TO GO, YOUR SAMS AND DUNS NUMBERS!

Here is the SBA additional PPP guidance:



Please stay tuned for more information as it becomes available!