Additional Guidance on the Implementation of Section 1112 of the CARES Act, Subsidy for Certain Loan Payments, for the 7(a) and 504 Loan Programs

On April 16, 2020, SBA issued Procedural Notice 5000-20020, Implementation of Section 1112 of the CARES Act, Subsidy for Certain Loan Payments, for the 7(a) and 504 Loan Programs, which sets forth the criteria and the procedures for carrying out section 1112. The purpose of this notice is to provide additional guidance on the implementation of section 1112 for the 7(a) and 504 Loan Programs.