Update: Paycheck Protection Program - Additional SBA Guidance Released

Last updated on 4/23/2020

As discussed in a previous client alert issued by Stoel Rives’ corporate team, the Paycheck Protection Program (“Program”) is part of a quickly evolving regulatory landscape. With a tremendous amount of information and guidance being released daily, it can be challenging to keep track of changes or clarifications being made regarding the Program. To assist borrowers, investors and lenders alike, here is a consolidated list of Program application materials and guidance provided by the Small Business Administration (“SBA”) and other organizations:

Applications and Agreements

• Final Borrower Application Form
• Final Lender Application Form
• Lender Agreement

SBA Guidance

• Program’s Interim Final Rule
• Program’s Affiliation Interim Final Rule
• Affiliation Rules for the Program
• April 4, 2020, Guidance on Affiliation from GC for Procurement Law to Associate Administrator for Capital Access
• Frequently Asked Questions for Lenders and Borrowers
• Frequently Asked Questions for Faith-Based Organizations

U.S. Department of Treasury Guidance

• Program Overview
• Program Information Sheet for Lenders
• Program Information Sheet for Borrowers

National Venture Capital Association Guidance

• Affiliation in the Context of SBA Loans - Guidance for Venture Capital Investors

Stoel Rives has a dedicated team of experts prepared to answer your questions regarding the Program. Please contact Kevin Burnett at 503.294.9240 or kevin.burnett@stoel.com; Brant Norquist at 503.294.9143 or brant.norquist@stoel.com; John Laney at 206.386.7559 or john.laney@stoel.com; or Gary Barnum at 503.294.9114 or gary.barnum@stoel.com.