{"id":"AGY-FED-FINANCIAL-088","kind":"order","level":"federal","jurisdiction":"United States; Small Business Administration with the Department of the Treasury (federal)","state":"","metro":"","industry":"","agency":"FED-FINANCIAL","eco":"","issuer":"Small Business Administration in consultation with the Secretary of the Treasury","authority":"Pub. L. 116-260, div. N, § 303; 15 U.S.C. § 636(a)(37)","instrument":"Interim final rule, Business Loan Program Temporary Changes; Paycheck Protection Program Second Draw Loans, 86 Fed. Reg. 3712 (Jan. 14, 2021) (RIN 3245-AH63)","title":"Business Loan Program Temporary Changes; Paycheck Protection Program Second Draw Loans","dateIssued":"2021-01-06","effective":"2021-01-12","end":"2021-03-31 (statutory; extended by Congress to May 31, 2021)","startDate":"2021-01-12","endDate":"2021-06-30","quarters":["2021Q1","2021Q2"],"types":["OTHER"],"addressees":["borrowers with 300 or fewer employees that experienced a revenue reduction of 25 percent or greater in 2020 relative to 2019","PPP lenders"],"clause":"Effective Date: This interim final rule is effective January 12, 2021.... [A Second Draw PPP Loan is available to a borrower that has] 300 [or fewer] employees [and that experienced a reduction in gross] receipts of 25 percent or greater in 2020 [relative to the same quarter of 2019, measured by] quarterly gross receipts for one quarter [in 2020 compared with 2019, or annual receipts, and that has used or will use] the full amount of the First [Draw PPP Loan].","enforcement":"15 U.S.C. § 636(a)(37); 13 C.F.R. part 120","functions":["BL PPP lending in 2021Q1-Q2","OP","CB small-business borrowers with 25 percent revenue declines into 2021"],"notes":"Context for 2021: Congress and the SBA built a second lending round in January 2021 on the premise that quarterly revenue reductions of 25 percent or more from the orders continued into and through 2020 and 2021Q1","sourceUrl":"https://www.govinfo.gov/content/pkg/FR-2021-01-14/pdf/2021-00452.pdf","snapshot":"","fileExists":true,"fileBytes":239824,"grade":"primary","character":"","description":"","collection":"AGY-FED-FINANCIAL","url":"/library/AGY-FED-FINANCIAL-088","exhibitUrl":"/exhibit/AGY-FED-FINANCIAL-088","citation":"Small Business Administration in consultation with the Secretary of the Treasury, Interim final rule, Business Loan Program Temporary Changes; Paycheck Protection Program Second Draw Loans, 86 Fed. Reg. 3712 (Jan. 14, 2021) (RIN 3245-AH63) (Jan. 6, 2021) (Ex. AGY-FED-FINANCIAL-088)","stateName":"","related":[]}