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Paycheck Protection Program Update

SECOND DRAW LOANS UNDER THE PAYCHECK PROTECTION PROGRAM

Updated January 10, 2021

The following information is intended to be a general brief overview and update and is based upon our current understanding of guidance and regulations issued by the U.S. Small Business Administration and the U.S. Department of the Treasury. This information is not comprehensive and may be supplemented and revised as more guidance becomes available and does not constitute legal or tax advice. PPP loan applicants and borrowers should contact their legal and tax/accounting professionals for questions regarding rules, program requirements and eligibility and for any legal or tax advice. Visit www.sba.gov or www.treasury.gov for more information and details, including the comprehensive program rules.

On December 27, 2020, the Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act (Economic Aid Act) (Pub. L. 116-260) became law. The Economic Aid Act extends the authority to make Paycheck Protection Program (PPP) loans through March 31, 2021 and revises certain PPP requirements.

In addition to creating “second draw” PPP loans (Second Draw PPP Loans), the Act expands the set of expenses eligible for forgiveness and changes certain other aspects of the PPP.

On January 6, 2021, the U.S. Small Business Administration (SBA) and the Department of the Treasury (Treasury) posted a consolidated interim final rule implementing the PPP and incorporating the Economic Aid Act amendments (“Consolidated First Draw PPP IFR”), which can be found at https://home.treasury.gov/system/files/136/PPP-IFR-Paycheck-Protection-Program-as-Amended-by-Economic-Aid-Act.pdf. In addition, on January 6, 2021, SBA and Treasury also posted an interim final rule regarding Second Draw PPP Loans (“Second Draw PPP IFR”), which can be found at https://home.treasury.gov/system/files/136/PPP-IFR-Second-Draw-Loans.pdf.

As stated in the Consolidated First Draw PPP IFR, for ease of borrower and lender reference, the Consolidated First Draw PPP IFR also consolidates the interim final rules (and important guidance) issued to the date of the Consolidated First Draw PPP IFR governing borrower eligibility, lender eligibility, and PPP application and origination requirements for new PPP loans, as well as provides general rules relating to loan increases and loan forgiveness. The Consolidated First Draw PPP IFR applies to loan applications, including requests for increases, and applications for loan forgiveness submitted following enactment of the Economic Aid Act. In addition, the Consolidated First Draw PPP IFR applies to loan forgiveness applications submitted before enactment of the Economic Aid Act where SBA has not remitted the forgiveness payment.

The Consolidated First Draw PPP IFR provides that SBA intends to issue a consolidated rule governing all aspects of loan forgiveness and the loan review process as well.

The following brief overview focuses on Second Draw PPP Loans and is based upon the Second Draw PPP IFR.

PAYCHECK PROTECTION PROGRAM SECOND DRAW LOANS

What requirements apply to Second Draw PPP Loans?
As referenced above, SBA has indicated that Second Draw PPP Loans are subject to the Consolidated First Draw PPP IFR and all PPP loan program requirements, except as otherwise provided. No collateral or personal guarantees will be required, the interest rate is 1.0%, and the maturity is five years. In the Second Draw PPP IFR, SBA has confirmed that Frequently Asked Questions and other guidance issued by SBA or by SBA in consultation with the Treasury with respect to PPP loans under section 7(a)(36) of the Small Business Act (15 U.S.C. 636(a)(36)) (“First Draw PPP Loans”) apply to Second Draw PPP Loans, except as otherwise provided.

As with First Draw PPP Loans, lenders are permitted to rely on certifications of the borrower to determine the borrower’s eligibility and use of loan proceeds.

Who is eligible for a Second Draw PPP Loan?
Subject to certain exclusions, SBA has provided that an applicant is eligible for a Second Draw PPP Loan if it is a business concern, independent contractor, eligible self-employed individual, sole proprietor, nonprofit organization eligible for a First Draw PPP Loan, veterans organization, Tribal business concern, housing cooperative, small agricultural cooperative, eligible 501(c)(6) organization or destination marketing organization, or an eligible nonprofit news organization that:
  1. previously received a First Draw PPP loan in accordance with the eligibility criteria in the Consolidated First Draw PPP IFR;
  2. has used, or will use, the full amount of its First Draw PPP Loan (including the amount of any increase on such First Draw PPP Loan) on authorized uses under subsection (B)(11) of the Consolidated First Draw PPP IFR on or before the expected date on which the Second Draw PPP Loan will be disbursed;
  3. employs not more than 300 employees, unless it satisfies the alternative criteria for businesses with a North American Industry Classification System (“NAICS”) code beginning with 72 (generally from the Accommodation and Food Services sector) and certain eligible news organizations with more than one physical location; and
  4. experienced a reduction in revenue in calendar year 2020, measured as follows:
    1. the applicant had gross receipts during the first, second, third, or fourth quarter in 2020 that demonstrate at least a 25 percent reduction from the applicant’s gross receipts during the same quarter in 2019 (for example, an applicant that had gross receipts of $50,000 in the second quarter of 2019 and had gross receipts of $30,000 in the second quarter of 2020 experienced a 40 percent revenue reduction between these two quarters);
    2. if the applicant was not in business during the first or second quarter of 2019, but was in business during the third and fourth quarters of 2019, the applicant had gross receipts during the first, second, third, or fourth quarter of 2020 that demonstrate at least a 25 percent reduction from the applicant’s gross receipts during the third or fourth quarter of 2019 (for example, an applicant that had gross receipts of $50,000 in the third quarter of 2019 and had gross receipts of $30,000 in the third quarter of 2020–demonstrating a reduction of 40 percent from the applicant’s gross receipts during the third quarter in 2019);
    3. if the applicant was not in business during the first, second, or third quarter of 2019, but was in business during the fourth quarter of 2019, the applicant had gross receipts during the first, second, third, or fourth quarter of 2020 that demonstrate at least a 25 percent reduction from the fourth quarter of 2019 (for example, an applicant that had gross receipts of $50,000 in the fourth quarter of 2019 and had gross receipts of $30,000 in the fourth quarter of 2020–demonstrating a reduction of 40 percent from the applicant’s gross receipts during the fourth quarter in 2019); or
    4. if the applicant was not in business during 2019, but was in operation on February 15, 2020, the applicant had gross receipts during the second, third, or fourth quarter of 2020 that demonstrate at least a 25 percent reduction from the gross receipts of the entity during the first quarter of 2020 (for example, an applicant that had gross receipts of $50,000 in the first quarter of 2020 and had gross receipts of $30,000 in the fourth quarter of 2020 – demonstrating a reduction of 40 percent from the applicant’s gross receipts during the first quarter in 2020).

The Second Draw PPP IFR provides that an applicant that was in operation in all four quarters of 2019 is deemed to have experienced the revenue reduction described in (1) above if it experienced a reduction in annual receipts of 25 percent or greater in 2020 compared to 2019 and the borrower submits copies of its annual tax forms substantiating the revenue decline.

The definition and calculation of gross receipts, including gross receipts of affiliates and exclusions from gross receipts, is included in the Second Draw PPP IFR.

Any business concern that has more than one physical location and that employs not more than 300 employees per physical location is eligible to receive a Second Draw PPP Loan if it is assigned a NAICS code beginning with 72 at the time of loan disbursement and otherwise meets eligibility criteria.

Any business concern, or any station which broadcasts pursuant to a license granted by the Federal Communications Commission under title III of the Communications Act of 1934 (47 U.S.C. 301 et seq.), that has more than one physical location and that employs not more than 300 employees per physical location is eligible to receive a Second Draw PPP Loan if it meets the eligibility criteria and: (1) is majority owned or controlled by a business concern that is assigned a NAICS code beginning with 511110 or 5151 or, with respect to a public broadcasting entity (as defined in section 397(11) of the Communications Act of 1934 (47 U.S.C. 397(11))), has a trade or business that falls under such a code; and (2) makes a good faith certification that proceeds of the loan will be used to support expenses at the component of the organization that produces or distributes locally focused or emergency information.

How do SBA’s affiliation rules affect an applicant’s eligibility for a Second Draw PPP Loan?
Eligibility for Second Draw PPP Loans is generally governed by the same affiliation rules (and waivers) as First Draw PPP Loans.  However, the affiliation rules under 13 CFR 121.301(f) are waived with respect to eligibility for a Second Draw PPP Loan for:
  1. any business concern with not more than 300 employees that, as of the date on which the covered loan is disbursed, is assigned a NAICS code beginning with 72; and
  2. (A) any business concern (including any station which broadcasts pursuant to a  license granted by the Federal Communications Commission under title III of the Communications Act of 1934 (47 U.S.C. 301 et seq.) without regard for whether such a station is a concern as defined in 13 C.F.R. § 121.105, or any successor thereto) that employs not more than 300 employees, per physical location of such business concern and is majority owned or controlled by a business concern that is assigned a NAICS code beginning with 511110 or 5151; or (B) any nonprofit organization that is assigned a NAICS code beginning with 5151.

Who is not eligible for a Second Draw PPP Loan?
An applicant is not eligible for a Second Draw PPP Loan, even if it meets the eligibility requirements described in the Second Draw PPP IFR, if the applicant is:
  1. excluded from eligibility under the Consolidated First Draw PPP IFR;
  2. a business concern or entity primarily engaged in political activities or lobbying activities, as defined in section 3 of the Lobbying Disclosure Act of 1995 (2 U.S.C. 1602), including any entity that is organized for research or for engaging in advocacy in areas such as public policy or political strategy or otherwise describes itself as a think tank in any public documents;
  3. any business concern or entity: (i) for which an entity created in or organized under the laws of the People’s Republic of China or the Special Administrative Region of Hong Kong, or that has significant operations in the People’s Republic of China or the Special Administrative Region of Hong Kong, owns or holds, directly or indirectly, not less than 20 percent of the economic interest of the business concern or entity, including as equity shares or a capital or profit interest in a limited liability company or partnership; or (ii) that retains, as a member of the board of directors of the business concern, a person who is a resident of the People’s Republic of China;
  4. any person required to submit a registration statement under section 2 of the Foreign Agents Registration Act of 1938 (22 U.S.C. 612);
  5. any person or entity that receives a grant for shuttered venue operators under section 324 of the Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act;
  6. any entity in which the President, the Vice President, the head of an Executive department, or a Member of Congress, or the spouse of such person as determined under applicable common law, directly or indirectly holds a controlling interest in the entity, where:
    1. “controlling interest” means owning, controlling, or holding not less than 20 percent, by vote or value, of the outstanding amount of any class of equity interest in an entity;
    2. “equity interest” means: (A) a share in an entity, without regard to whether the share is transferable or classified as stock or anything similar; (B) a capital or profit interest in a limited liability company or partnership; or (C) a warrant or right, other than a right to convert, to purchase, sell, or subscribe to a share or interest described in (A) or (B), respectively;
    3. “Executive department” has the meaning given the term in section 101 of title 5, United States Code;
    4. “Member of Congress” means a Member of the Senate or House of Representatives, a Delegate to the House of Representatives, and the Resident Commissioner from Puerto Rico; and
    5. For the purpose of determining whether a person has a controlling interest in the entity, the securities owned, controlled, or held by the President, the Vice President, the head of an Executive department, or a Member of Congress, shall be aggregated with the securities held by  his or her spouse as determined under applicable common law;
  7. any issuer, the securities of which are listed on an exchange registered as a national securities exchange under section 6 of the Securities Exchange Act of 1934 (15 U.S.C. 78f), where the terms “exchange,” “issuer,” and “security” have the meanings given those terms in section 3(a) of the Securities Exchange Act of 1934 (15 U.S.C. 78c(a)), subject to certain exceptions;
  8. an entity that has previously received a Second Draw PPP Loan; or
  9. an entity that has permanently closed.

What is the maximum loan amount for a Second Draw PPP Loan?
  1. In general, the maximum loan amount for a Second Draw PPP Loan is equal to the lesser of two and half months of the borrower’s average monthly payroll costs or $2 million, except as otherwise provided.
    A borrower’s average monthly payroll costs may be based on calendar year 2020, calendar year 2019, or as otherwise specified in the Second Draw PPP IFR.
    SBA has indicated that “Payroll costs” has the same meaning as in subsections (B)(4)(g) and (B)(4)(h) of the Consolidated First Draw PPP IFR and is calculated in the same manner. In calculating a borrower’s payroll costs, the borrower must subtract any compensation paid to an employee in excess of $100,000 on an annualized basis, as prorated for the time period during which the payments are made or the obligation to make the payments is incurred.
  2. Except as otherwise provided, the maximum amount of a Second Draw PPP Loan is calculated as the lesser of:
    1. the product obtained by multiplying: (A) the average total monthly payment for payroll costs incurred or paid by the borrower during 2019 or 2020 (at the election of the borrower); by (B) 2.5; or
    2. $2,000,000.
  3. The maximum amount of a Second Draw PPP Loan to a borrower that is a seasonal employer (meaning an employer that does not operate for more than 7 months in any calendar year or that during the preceding calendar year, had gross receipts for any 6 months of that year that were not more than 33.33 percent of the gross receipts of the employer for the other 6 months of that year) is calculated as the lesser of:
    1. the product obtained by multiplying: (A) at the election of the borrower, the average total monthly payments for payroll costs incurred or paid by the borrower for any 12-week period between February 15, 2019 and February 15, 2020; by (B) 2.5 (or, only for a borrower assigned a NAICS code beginning with 72 at the time of disbursement as described below, 3.5); or
    2. $2,000,000.
  4. The maximum amount of a Second Draw PPP Loan to a borrower that did not exist during the 1-year period preceding February 15, 2020, but was in operation on February 15, 2020 (“new entity”), is calculated as the lesser of:
    1. the product obtained by multiplying: (A) the quotient obtained by dividing: (1) the sum of the total monthly payments by the borrower for payroll costs paid or incurred by the borrower as of the date on which the borrower applies for the Second Draw PPP Loan; by (2) the number of months in which those payroll costs were paid or incurred; by (B) 2.5 (or, only for a borrower assigned a NAICS code beginning with 72 at the time of disbursement as described below, 3.5); or
    2. $2,000,000.
  5. The maximum amount of a Second Draw PPP Loan made to a borrower assigned a NAICS code beginning with 72 at the time of disbursement as defined in subsection IV(f)(10) of the Second Draw PPP IFR (that is not a seasonal employer or new entity addressed in subsection IV(f)(3) or IV(f)(4) of the Second Draw PPP IFR or a borrower with self-employment income or a partnership addressed in subsection IV(f)(7) or IV(f)(8) of the Second Draw PPP IFR is calculated as the lesser of:
    1. the product obtained by multiplying: (A) the average total monthly payment for payroll costs incurred or paid by the borrower during either 2019 or 2020 (at the borrower’s election) by (B) 3.5; or
    2. $2,000,000.
  6. The maximum amount of a Second Draw PPP Loan to a farmer or rancher that: (A) operates as a sole proprietorship or as an independent contractor, or is an eligible self-employed individual; (B) reports farm income or expenses on a Schedule F (IRS Form 1040); and (C) was in business as of February 15, 2020, is calculated depending on whether the borrower has employees.
    If such a borrower does not have any employees, the maximum loan amount is the product obtained by multiplying: (A) the gross income of the borrower in 2019 or 2020, as reported on a Schedule F (IRS Form 1040), that is not more than $100,000, divided by 12; and (B) 2.5.
    If such a borrower has employees, the maximum loan amount is calculated as the lesser of: (A) the product obtained by multiplying: (1) the sum of (i) the difference between gross income and employee payroll costs of the borrower in 2019 or 2020 (at the election of the borrower), as reported on a Schedule F (IRS Form 1040), that is not more than $100,000, divided by 12, and (ii) the average total monthly payment for employee payroll costs incurred or paid by the borrower during the same year elected by the borrower; by (2) 2.5; or (B) $2,000,000.
  7. The maximum amount of a Second Draw PPP Loan to a borrower that has income from self-employment and files a Form 1040, Schedule C, is calculated as follows, depending on whether the borrower has employees:
    1. For a borrower that has income from self-employment and does not have any employees, the maximum loan amount is the lesser of: (A) the product obtained by multiplying: (1) the net profit of the borrower in 2019 or 2020, as reported on IRS Form 1040 Schedule C, that is not more than $100,000, divided by 12; and (2) 2.5 (or, only for a borrower assigned a NAICS code beginning with 72 as defined in subsection IV(f)(10) of the Second Draw PPP IFR at the time of disbursement, 3.5).
    2. For a borrower that has income from self-employment and has employees, the maximum loan amount is the lesser of: (A) the product obtained by multiplying: (1) the sum of (i) the net profit of the borrower in 2019 or 2020 (at the election of the borrower), as reported on IRS Form 1040 Schedule C, that is not more than $100,000, divided by 12; (ii) the average total monthly payment for employee payroll costs incurred or paid by the borrower during the same year elected by the borrower; by (2) 2.5 (or, only for a borrower assigned a NAICS code beginning with 72 at the time of disbursement as defined in subsection IV(f)(10) of the Second Draw PPP IFR, 3.5); or (B) $2,000,000.
  8. The maximum amount of a Second Draw PPP Loan to a borrower that files taxes as a partnership is calculated as the lesser of:
    1. the product obtained by multiplying: (A) the sum of (1) net earnings from self-employment of individual general partners in 2019 or 2020 (at the election of the borrower), as reported on IRS Form 1065 K-1, reduced by section 179 expense deduction claimed, unreimbursed partnership expenses claimed, and depletion claimed on oil and gas properties, multiplied by 0.923537, that is not more than $100,000, divided by 12; (2) the average total monthly payment for employee payroll costs incurred or paid by the borrower during the same year elected by the borrower; by (B) 2.5 (or, only for a borrower assigned a NAICS code beginning with 72 as defined in subsection IV(f)(10) of the Second Draw PPP IFR at the time of disbursal, 3.5); or
    2. $2,000,000.
  9. Businesses that are part of a single corporate group are not permitted to receive more than $4,000,000 of Second Draw PPP Loans in the aggregate.
  10. For purposes of calculating a borrower’s maximum payroll costs, a borrower may multiply its average monthly payroll costs by 3.5 only if the borrower is in the Accommodation and Food Services sector and has reported a NAICS code beginning with 72 as its business activity code on its most recent IRS income tax return.

How do I submit an application for a Second Draw PPP Loan and what documentation must I provide to demonstrate eligibility?
The applicant must submit to the lender SBA Form 2483-SD (Paycheck Protection Program Second Draw Borrower Application Form) or the lender’s equivalent form including the required certifications and documentation. Univest will be using an online submission process. When we are ready to accept applications, information will be provided regarding how Univest customers can submit an application utilizing the online submission process.

At the time an applicant submits its loan application form, it must submit the following unless the documentation was submitted to the lender for the First Draw PPP Loan (i.e., the applicant used calendar year 2019 figures to determine both its First Draw PPP Loan amount and its Second Draw PPP Loan amount, and the lender for the applicant’s Second Draw PPP Loan is the same as the lender that made the applicant’s First Draw PPP Loan):
  1. If the applicant is not self-employed, the applicant’s Form 941 (or other tax forms containing similar information) and state quarterly wage unemployment insurance tax reporting forms from each quarter in 2019 or 2020 (whichever was used to calculate payroll), as applicable, or equivalent payroll processor records, along with evidence of any retirement and employee group health, life, disability, vision and dental insurance contributions, must be provided. A partnership must also include its IRS Form 1065 K-1s.
  2. If the applicant is self-employed and has employees, the applicant’s 2019 or 2020 (whichever was used to calculate loan amount) IRS Form 1040 Schedule C, Form 941 (or other tax forms or equivalent payroll processor records containing similar information) and state quarterly wage unemployment insurance tax reporting forms from each quarter in 2019 or 2020 (whichever was used to calculate loan amount), as applicable, or equivalent payroll processor records, along with evidence of any retirement and employee group health, life, disability, vision and dental insurance contributions, if applicable, must be provided. A payroll statement or similar documentation from the pay period that covered February 15, 2020 must be provided to establish the applicant was in operation on February 15, 2020.
  3. If the applicant is self-employed and does not have employees, the applicant must provide (a) its 2019 or 2020 (whichever was used to calculate loan amount) Form 1040 Schedule C, (b) a 2019 or 2020 (whichever was used to calculate loan amount) IRS Form 1099-MISC detailing nonemployee compensation received (box 7), invoice, bank statement, or book of record that establishes that the applicant is self-employed; and (c) a 2020 invoice, bank statement, or book of record to establish that the applicant was in operation on or around February 15, 2020.
  4. For loans with a principal amount greater than $150,000, documentation sufficient to establish that the applicant experienced a reduction in revenue, as provided in subsection IV(c)(1)(iv) of the Second Draw PPP IFR , must be provided at the time of application, which may include relevant tax forms, including annual tax forms, or, if relevant tax forms are not available, a copy of the applicant’s quarterly income statements or bank statements.
  5. For loans with a principal amount of $150,000 or less, the applicant must submit documentation sufficient to establish that the applicant experienced a reduction in revenue as provided in subsection IV(c)(1)(i) of this section at the time of application, on or before the date the borrower submits an application for loan forgiveness, or, if the borrower does not apply for loan forgiveness, at SBA’s request. Such documentation may include relevant tax forms, including annual tax forms, or, if relevant tax forms are not available, a copy of the applicant’s quarterly income statements or bank statements.

On the Second Draw PPP Loan borrower application, an authorized representative of the applicant must make the certifications listed in subsection (B)(12) of the Consolidated First Draw PPP IFR, except:
  1. instead of the certification in subsection (B)(12)(v) of the Consolidated First Draw PPP IFR, the applicant must certify that the applicant has not and will not receive another Second Draw Paycheck Protection Program Loan; and
  2. an authorized representative of the applicant must also certify:
    1. The Applicant has realized a reduction in gross receipts in excess of 25% relative to the relevant comparison time period. For loans greater than $150,000, Applicant has provided documentation to the lender substantiating the decline in gross receipts. For loans of $150,000 or less, Applicant will provide documentation substantiating the decline in gross receipts upon or before seeking loan forgiveness for the Second Draw Paycheck Protection Program Loan or upon SBA request.
    2. The Applicant received a First Draw Paycheck Protection Program Loan and, before the Second Draw Paycheck Protection Program Loan is disbursed, will have used the full loan amount (including any increase) of the First Draw Paycheck Protection Program Loan only for eligible expenses.
    3. The Applicant is not a business concern or entity (a) for which an entity created in or organized under the laws of the People’s Republic of China or the Special Administrative Region of Hong Kong, or that has significant operations in the People’s Republic of China or the Special Administrative Region of Hong Kong, owns or holds, directly or indirectly, not less than 20 percent of the economic interest of the business concern or entity, including as equity shares or a capital or profit interest in a limited liability company or partnership; or (b) that retains, as a member of the board of directors of the business concern, a person who is a resident of the People’s Republic of China.
    4. The Applicant is not required to submit a registration statement under section 2 of the Foreign Agents Registration Act of 1938 (22 U.S.C. 612).
    5. The Applicant is not a business concern or entity primarily engaged in political or lobbying activities, including any entity that is organized for research or for engaging in advocacy in areas such as public policy or political strategy or otherwise describes itself as a think tank in any public documents.

Will an applicant’s Second Draw PPP Loan application be affected if there are unresolved issues regarding the applicant’s First Draw PPP Loan?
If a First Draw PPP Loan is under review pursuant to PPP rules and/or information in SBA’s possession indicates that the borrower may have been ineligible for the First Draw PPP Loan it received or for the loan amount received by the borrower, the lender will receive notification from SBA when the lender submits an application for guaranty of a Second Draw PPP Loan (“unresolved borrower”).

If the lender receives notification that the Applicant for a Second Draw PPP Loan is an unresolved borrower, the lender will not receive an SBA loan number. SBA will resolve the issue related to the unresolved borrower expeditiously and will notify the lender of the process to obtain an SBA loan number for the Second Draw PPP Loan, if appropriate.

Are Second Draw PPP Loans eligible for loan forgiveness?
SBA has provided that Second Draw PPP Loans are eligible for loan forgiveness on the same terms and conditions as First Draw PPP Loans, except that Second Draw PPP Loan borrowers with a principal amount of $150,000 or less are required to provide documentation of revenue reduction if such documentation was not provided at the time of the loan application as specified in subsections IV(g)(2)(iv) and (v) of the Second Draw PPP IFR.


We hope that this information is helpful to you. As indicated above, the foregoing information is intended to be a general brief overview and update and is based upon our current understanding of guidance and regulations issued by the U.S. Small Business Administration and the U.S. Department of the Treasury. This information is not comprehensive and may be supplemented and revised as more guidance becomes available and does not constitute legal or tax advice.

We continue to encourage you to contact your legal and tax/accounting professionals for questions regarding rules, program requirements and eligibility and for any legal or tax advice.

Visit www.sba.gov or www.treasury.gov for more information and details, including the comprehensive program rules.
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