California Community Banking Network
  • Membership
    • Member Portal Login
    • Bankers Helping Bankers
    • Associate Membership
    • CCBN Associate Member Directory
  • Education and Events
    • Seminars and Events
    • Webinars >
      • Categories >
        • AUDIT & ACCOUNTING
        • Collections
        • Compliance
        • Directors
        • Frontline New Accounts
        • Human Resources
        • IT
        • IRA
        • Lending
        • Marketing
        • Operations
        • Security & Fraud
        • Senior Management
    • Recorded Webinars
    • Community Banker University >
      • CBU Certification Programs
      • CBU Bank Director Program
      • CBU Leadership Academy
      • CBU Online Training
      • ICBA LIVE 2023
      • ICBA Lead FWD Summit
  • Advocacy
    • Legislative Successes
    • From ICBA >
      • From Washington DC
      • From the Top
      • Portfolio Management
  • About Us
    • Our Team
    • Board of Directors
    • Contact
  • Preferred Service Providers (PSP)
    • PSP Announcements
Picture
This page is for community bankers to ask questions, share experiences and learn more about the PPP process.
​This is a peer exchange and not official interpretation or legal consultation.
Please refer to SBA and Treasury for 
official guidance. 

SBA: New PPP rule coming soon

3/2/2021

0 Comments

 
The SBA said it will "soon" publish a new Paycheck Protection Program interim final rule and issue a new application for Schedule C filers. Until then, it issued the following considerations:
  • The new definition of “payroll costs” for Schedule C filers will be available for loans approved after the effective date of the interim rule. To use the new definition, applicants must use the new application form (SBA Form 2483-C or SBA Form 2483-SD-C).
  • Lenders who have submitted the current application form to the platform and have not yet been approved may withdraw the application from the platform.
  • If the application has been approved but the loan has not yet been disbursed, lenders may cancel the loan and the applicant may apply for a new loan using the new application form.
  • If lenders have disbursed the loan but have not yet filed the related Form 1502, they may cancel the loan and applicants may repay and apply for a new loan using the new application form.
  • If lenders have disbursed the loan and filed the related Form 1502, the loan cannot be canceled.
  • Loans cannot be increased to take advantage of the new definition.
More: Additional PPP information and resources are available on the SBA and Treasury sites and ICBA's PPP and EIP News page.
0 Comments



Leave a Reply.

      Do you have a question you would like to see posted?

    Submit

    Categories

    All
    Application 2484
    Fintech
    Forgiveness
    Funding
    Late Charge
    Notice To Applicants
    Origination
    Third Party
    XML File


    Related Resources:
    • ICBA 
      Info and FAQ on SBA PPP
    • ​Treasury FAQ 
    ​OriTrust
    ​

    OriTrust's PPP Fast Application is a powerful bank developed tool that can help its members fast-track PPP lending and is very straightforward and simple to use. It helps with making sure the bank is collecting all the required information and with the ongoing monitoring of information to ensure each borrower obtains loan forgiveness. 
California Community Banking Network.  All Rights Reserved.
3808 E. La Palma Ave. |  Anaheim, CA 92807
Phone: 800-627-6613 | info@ccbnetwork.org  | sitemap
  • Membership
    • Member Portal Login
    • Bankers Helping Bankers
    • Associate Membership
    • CCBN Associate Member Directory
  • Education and Events
    • Seminars and Events
    • Webinars >
      • Categories >
        • AUDIT & ACCOUNTING
        • Collections
        • Compliance
        • Directors
        • Frontline New Accounts
        • Human Resources
        • IT
        • IRA
        • Lending
        • Marketing
        • Operations
        • Security & Fraud
        • Senior Management
    • Recorded Webinars
    • Community Banker University >
      • CBU Certification Programs
      • CBU Bank Director Program
      • CBU Leadership Academy
      • CBU Online Training
      • ICBA LIVE 2023
      • ICBA Lead FWD Summit
  • Advocacy
    • Legislative Successes
    • From ICBA >
      • From Washington DC
      • From the Top
      • Portfolio Management
  • About Us
    • Our Team
    • Board of Directors
    • Contact
  • Preferred Service Providers (PSP)
    • PSP Announcements