NON-SUBSTANTIVE CHANGE TO OMB CONTROL NUMBER 3245-0407
SBA is submitting this request for approval of a non-substantive change to SBA Form 3506 - CARES Act Section 1102 Lender Agreement and SBA Form 3507 - CARES Act Section 1102 Lender Agreement – Non-Bank and Non-Insured Depository Institution Lenders.
Section 1102(b) of the Coronavirus Aid, Relief, and Economic Security Act (Pub. L. 116-136) authorized the Small Business Administration (SBA) to guarantee Paycheck Protection Program (PPP) loans through June 30, 2020. On July 4, 2020, the President signed into law S. 4116, which reauthorizes lending under the PPP through August 8, 2020. As a result of this extended authority, SBA is making a conforming change to paragraph 8(A) of Form 3506 and 3507 by replacing the date July 1, 2020, with the date August 9, 2020. SBA is also correcting the expiration date on Form 3506 to read 10/31/2020, instead of 9/30/2020, and adding the burden disclosure statement that was inadvertently omitted from both forms.
| File Type | application/vnd.openxmlformats-officedocument.wordprocessingml.document |
| Author | Author |
| File Modified | 0000-00-00 |
| File Created | 2021-01-11 |