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# PPP lender information

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## Content

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## Program updates

SBA is working to streamline the PPP forgiveness application process. Beginning in March 2024, all borrowers applying for forgiveness can use SBA's Direct Forgiveness Portal (DFP). This will ensure a more accessible process for borrowers, no matter loan size. 

All lenders will be required to decision forgiveness applications received through the portal. Lenders who have an established internal process may continue to use it. However, they must also accept DFP applications. When a borrower submits an application their PPP lender will get a notice.

###         Biden Administration takes steps to promote equitable access to SBA relief      

On February 22, 2021, President Biden announced the following changes to SBA's COVID-19 relief programs to ensure equity:

Specifically, from February 24 to March 9, 2021, **SBA had a 14-day, exclusive PPP loan application period for businesses and nonprofits with fewer than 20 employees**. This gave lenders and community partners more time to work with the smallest businesses to submit their applications, while also ensuring that larger PPP-eligible businesses would still have plenty of time to apply for and receive support before the program expired on March 31, 2021.

SBA also made four additional changes to open the PPP to more underserved small businesses than ever before. SBA is working with community partners to improve the emergency relief “digital front door” and conduct extensive stakeholder outreach. And, SBA is strengthening its relationships with lender partners to advance equity goals, deliver funding efficiently, and prevent fraud, waste, and abuse. With the PPP Interim Final Rule and FAQ issued at the end of July, 2021, SBA:
                        - Allowed sole proprietors, independent contractors, and self-employed individuals to receive more financial support by revising the PPP’s funding formula for these categories of applicants
                        - Eliminated an exclusionary restriction on PPP access for small business owners with prior non-fraud felony convictions, consistent with a bipartisan congressional proposal
                        - Eliminated PPP access restrictions on small business owners who have struggled to make student loan payments by eliminating student loan debt delinquency as a disqualifier to participating in the PPP
                        - Ensured access for non-citizen small business owners who are lawful U.S. residents by clarifying that they may use Individual Taxpayer Identification Number (ITIN) to apply for the PPP

A critical goal from Congress for the 2021 round of PPP was to reach small and low- and moderate-income (LMI) businesses who have not received the needed relief a forgivable PPP loan provides. Congress set a $15 billion set-aside for small and LMI First Draw borrowers. With existing policies, the current round has only deployed $2.4 billion to small LMI borrowers, in part because a disproportionate amount of funding in both wealthy and LMI areas is going to firms with more than 20 employees. The less-than-20 exclusivity period combined with the changes to expand access for sole proprietors, ITINs, returning citizens, and student loan debt will help us achieve congressional goals.

## Interim final rules

SBA has issued the following Interim Final Rules related to PPP:

**2021**
                  - Paycheck Protection Program as Amended by the Economic Aid Act
                  - Paycheck Protection Program Second Draw Loans
                  - Loan Forgiveness Requirements and Loan Review Procedures as Amended by Economic Aid Act
                  - Revisions to Loan Amount Calculation and Eligibility
                  - Paycheck Protection Program as Amended by the American Rescue Plan Act
                  - COVID Revenue Reduction Score, Direct Borrower Forgiveness Process, and Appeals Deferment
                  - Borrower Appeals of Final SBA Loan Review Decisions Under the Paycheck Protection Program

 

**2020**
                  - Paycheck Protection Program
                  - Affiliation Rules
                  - Additional Eligibility Criteria and Requirements for Certain Pledges of Loans for the PPP
                  - Promissory Notes, Authorizations, Affiliation, and Eligibility
                  - Seasonal Employers
                  - Disbursements
                  - Requirements – Corporate Groups and Non-Bank and Non-Insured Depository Institution Lenders
                  - Nondiscrimination and Additional Eligibility Criteria
                  - Extension of Limited Safe Harbor with Respect to Certification Concerning Need for PPP Loan Request
                  - Requirements for Loan Increases for Partnerships or Seasonal Employers
                  - Eligibility of Certain Electric Cooperatives
                  - Treatment of Entities with Foreign Affiliates
                  - Second Extension of Limited Safe Harbor with Respect to Certification Concerning Need for PPP Loan and Lender Reporting
                  - Requirements – Loan Forgiveness
                  - SBA Loan Review Procedures and Related Borrower and Lender Responsibilities
                  - Eligibility of Certain Telephone Cooperatives
                  - Interim Final Rule on Revisions to the First PPP Interim Final Rule
                  - Additional Revisions to First PPP Interim Final Rule
                  - Interim Final Rule on Revisions to the Third and Sixth Interim Final Rules
                  - Revisions to Loan Forgiveness Interim Final Rule and SBA Loan Review Procedures Interim Final Rule
                  - Additional Eligibility Revisions to First PPP Interim Final Rule
                  - Certain Eligible Payroll Costs (Fishing Boat Owners)  
                  - Appeals of SBA Loan Review Decisions Under the PPP
                  - Treatment of Owners and Forgiveness of Certain Nonpayroll Costs
                  - Additional Revisions to Loan Forgiveness and Loan Review Procedures

 

## Additional guidance for lenders 

### Frequently Asked Questions

                  - FAQ for PPP Borrowers and Lenders
                  - FAQ About PPP Loan Forgiveness

 

### Letters from the SBA Administrator

                  - Letter from the Administrator: SBA Guidance on Accessing Capital  for Minority, Underserved, Veteran and Women-Owned Business Concerns
                  - Letter from the Administrator to Lenders re: Underserved Communities

 

### Lender notices

                  - Expansion of SBA Direct Borrower Forgiveness Platform to Allow Submission of Borrower Forgiveness Applications for All PPP Loans Regardless of Loan Amount and PPP Lender
                  - Guidance on the Return of Paycheck Protection Program (PPP) Loan Funds
                  - Extension and Revision of SBA Guidance on Guaranty Purchases and Lender Servicing Responsibilities for PPP Loans
                  - SBA Loan Reviews of Paycheck Protection Program Lender Partial Approval Forgiveness Decisions
                  - Extension of and Update to Guidance Related to Paycheck Protection Program Loans and Changes of Ownership
                  - Guaranty Purchases, Charge-Offs, and Lender Servicing Responsibilities
                  - Extension and Revision of Guidance on Whole Loan Sales of Paycheck Protection Program Loans
                  - Updated Notice on First Draw Paycheck Protection Program Loan Increases After Enactment of the Economic Aid Act
                  - Second Notice on Modifications to SBA Forms 3506, 3507, and 750 CA (for purposes of PPP only)
                  - Second Notice of Revised Procedures for Addressing Hold Codes and Compliance Check Error Messages on PPP Loans
                  - Registration Required for System for Award Management (SAM.gov)
                  - Revised SBA PPP Procedures for Addressing Hold Codes on First Draw PPP Loans and Compliance Check Error Messages on First Draw PPP Loans and Second Draw PPP Loans
                  - Second Updated PPP Lender Processing Fee Payment and 1502 Reporting Process
                  - SBA PPP Procedures for Addressing Unresolved Issues on Borrower First Draw PPP Loans
                  - SBA Procedural Notice on PPP Borrower Resubmissions of Loan Forgiveness Applications Using Form 3508S, Lender Notice Responsibilities to PPP Borrowers, and Offset of Remittances to Lenders for Lender Debts
                  - SBA Procedural Notice on PPP Excess Loan Amount Errors
                  - SBA Procedural Notice on First Draw PPP Loan Increases After Enactment of the Economic Aid Act
                  - SBA Procedural Notice on Modifications to SBA Forms 3506, 3507 and 750 CA (for purposes of PPP only)
                  - SBA Procedural Notice on Repeal of EIDL Advance Deduction Requirement  for SBA Loan Forgiveness Remittances to PPP lenders
                  - SBA Procedural Notice on Extension of Authority  to Guarantee PPP loans
                  - SBA Procedural Notice on Participation Sales  for PPP loans. The purpose of this notice is to provide guidance to lenders approved to participate in the PPP regarding the sale of participating interests in PPP loans.
                  - SBA Procedural Notice on Whole Loan Sales  for PPP Loans. This notice provides guidance on the procedures for completing whole loan sales of PPP loans between participating lenders. 
                  - SBA Procedural Notice on Lender Processing Fee Payment and 1502 Reporting Process  for PPP. The purpose of this notice is to inform PPP lenders of the reporting process through which PPP lenders will report on PPP loans and collect the processing fee on fully disbursed loans which they are eligible to receive.
                  - SBA Procedural Notice on Refinance of EIDLs with PPP Loan Proceeds and Lender Remittance of EIDL Refinance Proceeds to SBA  informs PPP lenders regarding how loan proceeds must be used to refinance an SBA Economic Injury Disaster Loan (EIDL). The notice also informs PPP lenders of the procedure for remitting to the SBA any PPP loan proceeds designated for the refinance of an EIDL.
                  - SBA Information Notice on Guidance Regarding Identification and Reporting of Suspicious Activity in the COVID-19 EIDL Program  provides a brief overview of COVID-19 assistance available under SBA’s EIDL program, including both advances (grants) and direct loans, and to alert depository financial institutions to the potential for suspicious activity related to COVID-19 EIDL funds deposited into business or personal accounts.
                  - SBA Procedural Notice on Procedures for Lender Submission of PPP Loan Forgiveness Decisions to SBA and SBA Forgiveness Loan Reviews  informs PPP lenders of the processes for submitting decisions on PPP borrower loan forgiveness applications to SBA, requesting payment of the forgiveness amount determined by the lender, SBA loan forgiveness reviews and payment of the loan forgiveness amount determined by SBA.
                  - SBA Procedural Notice on PPP Loans and Changes of Ownership : The purpose of this notice is to provide information concerning the required procedures for changes of ownership of an entity that has received PPP funds (a “PPP borrower”).
                  - Paycheck Protection Program: E-Tran Loan Status Updates for PPP Partial and Full Forgiveness Payments

 

### Borrower forms

**Applications**
                  - SBA Form 2483:  PPP First Draw Borrower Application Form
                  - SBA Form 2483-C:  First Draw Borrower Application Form for Schedule C Filers Using Gross Income
                  - SBA Form 2483-SD:  PPP Second Draw Borrower Application Form
                  - SBA Form 2483-SD-C:  Second Draw Borrower Application Form for Schedule C Filers Using Gross Income

**Disclosures**
                  - SBA Form 3508D:  Borrower’s Disclosure of Certain Controlling Interests

**Loan necessity questionnaires**

For borrowers that, together with their affiliates, received PPP loans with an original principal amount of $2 million or greater:
                  - SBA Form 3509:  Loan Necessity Questionnaire (For-Profit Borrowers)
                  - SBA Form 3510:  Loan Necessity Questionnaire (Non-Profit Borrowers)

### Lender forms

                  - SBA Form 2484:  PPP Lender Application Form First Draw Loan Guaranty
                  - SBA Form 2484-SD:  PPP Lender Application Form Second Draw Loan Guaranty
                  - SBA Form 3506:  Lender Agreement (Federally Insured Depository Institutions, Federally Insured Credit Unions, Farm Credit System Institutions)
                  - SBA Form 3507:  Lender Agreement (Non-Bank and Non-Insured Depository Institution Lenders)

SBA and Treasury will consider applications for participation as PPP lenders from community development financial institutions and minority-, women-, veteran-, and military-owned lenders based on factors including those described on SBA Form 3507. Such factors include cases in which the lender does not meet all of the requirements listed on that form.

Among other criteria, SBA and Treasury will give strong consideration to the types of financial services provided by the lender; the lender’s compliance programs, including those related to Bank Secrecy Act; and the number and dollar amount of small business loans originated and serviced by the lender in a 12-month period over the past 36 months.

SBA and Treasury will also consider board membership composition as a proxy for ownership and control when determining the minority-, women-, veteran-, and military-owned status of non-profit lenders.

## Lender assistance

Lenders who need assistance accessing SBA's E-Tran system may call our Lender Customer Service Line at 833-572-0502.