SBA gives reprieve for small business owners appealing PPP loan forgiveness decisions

The Small Business Administration has given small businesses appealing their Paycheck Protection Program loan forgiveness decisions a critical reprieve.

Originally, small business owners who had appealed forgiveness decisions by the SBA but were more than 10 months after their original PPP loan covered periods would have had to start making payments on those loans. But the new interim final rule clarifies that small businesses that are currently waiting for an appeal decision from the SBA’s Office of Hearings and Appeals can defer payment on their loans.

“The deferment portion of the rule applies to PPP appeals filed after the effective date of this rule and to those PPP appeals filed before the effective date of this rule for which a notice and order has not been issued,” SBA said in the interim final rule.

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