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ARTICLE · 05 MAY 2020

Updated Business Affiliation Rules: Key Information For Paycheck Protection Program Borrowers

Ward and Smith, P.A
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In the last few days, the Small Business Administration ("SBA") has published further guidance on the Paycheck

United StatesCorporate/Commercial Law
Joanne Badr
Joanne Badr

In the last few days, the Small Business Administration ("SBA") has published further guidance on the Paycheck Protection Program ("PPP") Business Affiliation Rules, which we attempt to summarize below.

You can find all of the SBA's PPP related online postings here and read our previous coverage of the Business Affiliation Rules here. 

When a PPP loan applicant is calculating the number of employees it has, the applicant must consider the number of employees of any of its affiliates. There are four tests for affiliation based on control, which apply to applicants for PPP loans. "Concerns" and "Entities" are affiliates of each other when one controls or has the power to control the other, or where the same third party controls or has the power to control the other.

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