PPP Relaunch Guidance and Updates

Archived Industry News:PPP Relaunch Guidance and Updates

The Iowa Bankers Association continues to work closely with congressional leaders on stimulus relief related to the COVID-19 pandemic. Last year, Iowa banks delivered more than 61,000 Paycheck Protection Program loans totaling $5 billion to help small businesses in their communities. And our member banks stand ready to assist with the relaunch of PPP funding and second-draw loans.

Below are guidance, rules and updates released by the U.S. Small Business Administration and U.S. Department of the Treasury on the relaunch of PPP funding.

• Read the guidance on PPP loan access.  
• Read the interim final rule amending the PPP rules.
  
• Read the interim final rule on second-draw loans.

The SBA has created a user guide that outlines how to use the forgiveness portal to submit new PPP loan applications. The SBA’s Iowa District Office advises lenders to read the SBA Paycheck Protection Platform Lender Instructions — Origination System User Guide carefully and in its entirety.

Updated Borrower and Lender Guaranty Applications

• Download the borrower application for first-draw loans.
• Download the lender guaranty form for first-draw loans.
• Download the borrower application for second-draw loans.
• Download the lender guaranty form for second-draw loans.