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Shuttered Venues Can Get PPP Loans, Grants, SBA Says in Rule (2)

March 18, 2021, 3:49 PMUpdated: March 18, 2021, 8:44 PM

Guidance from the Small Business Administration on changes to the Paycheck Protection Program addresses how the agency will treat businesses newly eligible for the aid, such as small news organizations and nonprofits.

The Thursday guidance incorporates the new relief law’s (Pub. L. No. 117-2) amendments to the program, which expanded loan eligibility.

The interim final rule allows businesses that are eligible for Shuttered Venue Operator Grants, a separate SBA program, to get PPP loans.

The rule spells out that businesses can’t get a PPP loan in 2021 after they receive a grant. But if they ...