The Small Business Administration (SBA) Tuesday published in the Federal Register updates made to the Paycheck Protection Program (PPP) to clarify that some rural electric cooperatives will be eligible to utilize the program.
The PPP is intended to provide economic relief to small businesses nationwide adversely impacted by COVID-19, and the SBA published an interim final rule that “supplements the previously posted interim final rules by providing guidance on additional eligibility requirements for certain electric cooperatives, and requests public comment.”
The measure covers applications submitted under PPP through June 30, 2020, or until funds for the program are exhausted.
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