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Federal Register / Vol. 86, No. 9 / Thursday, January 14, 2021 / Rules and Regulations
requirements and the fees that lenders receive for making PPP loans.
5. Can a borrower take multiple draws from a PPP loan and thereby delay the start of the covered period? 113
No. The lender must make a one-time, full disbursement of the PPP loan within ten calendar days of loan approval; for the purposes of this rule, a loan is considered approved when the loan is assigned a loan number by SBA.114
Notwithstanding this limitation, lenders are not responsible for delays in disbursement attributable to a borrowers failure to timely provide required loan documentation, including a signed promissory note. Loans for which funds have not been disbursed because a borrower has not submitted required loan documentation within 20
calendar days of loan approval shall be cancelled by the lender. When disbursing loans, lenders must send any amount of loan proceeds designated for the refinance of an EIDL loan directly to SBA and not to the borrower.
6. If a partnership received a PPP loan that did not include any compensation for its partners, can the loan amount be increased to include partner compensation? 115

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Yes. If a partnership received a PPP
loan that only included amounts necessary for payroll costs of the partnerships employees and other eligible operating expenses, but did not include any amount for partner compensation,116 the lender may electronically submit a request through SBAs E-Tran Servicing site to increase the PPP loan amount to include appropriate partner compensation, even if the loan has been fully disbursed and even if the lenders first SBA Form 1502
report to SBA on the PPP loan has already been submitted. In no event can the increased loan amount exceed the maximum loan amount allowed under 113 This subsection was originally published at 85
FR 26321, subsection III.1.a. May 4, 2020, as amended by 85 FR 26321 June 19, 2020, and has been modified for readability.
114 If the tenth calendar day is a Saturday, Sunday, or legal holiday, the period continues to run until the end of the next business day.
115 This subsection was originally published at 85
FR 29842, subsection III.1.a. May 19, 2020 and has been revised to conform to sections 312 and 344 of the Economic Aid Act.
116 A partner in a partnership may not submit a separate PPP loan application as a self-employed individual. Instead, the self-employment income of general active partners may be reported as a payroll cost, up to $100,000 on an annualized basis, as prorated for the period during which the payments are made or the obligation to make the payments is incurred, on a PPP loan application filed by or on behalf of the partnership.

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the PPP Program, which is $10 million for an individual borrower or $20
million for a corporate group.
Additionally, the borrower must provide the lender with required documentation to support the calculation of the increase. Any request for an increase must be submitted electronically in E-Tran on or before March 31, 2021, and is subject to the availability of funds.
As described in subsection B.1.c., partnerships, rather than individual partners, are eligible for a PPP loan. As described in subsection B.4.e., selfemployment income of general active partners could be reported as a payroll cost, up to $100,000 on an annualized basis, as prorated for the period during which the payments are made or the obligation to make the payments is incurred, on a PPP loan application filed by or on behalf of the partnership.
For guidance describing how to calculate partnership PPP loan amounts and defining the self-employment income of partners, see How to Calculate Maximum Loan Amounts, Question 4 at https www.sba.gov/sites/
default/files/2020-04/How-to-CalculateLoan-Amounts.pdf April 20, 2020.
7. If a seasonal employer received a PPP
loan before December 27, 2020, can the loan amount be increased based on a revised calculation of the maximum loan amount? 117
Yes. If a seasonal employer received a PPP loan before December 27, 2020, and such employer would be eligible for a higher maximum loan amount under section 336 of the Economic Aid Act, as described in subsection B.4.c., the lender may electronically submit a request through SBAs E-Tran Servicing site to increase the PPP loan amount, even if the loan has been fully disbursed and even if the lenders first SBA Form 1502 report to SBA on the PPP loan has already been submitted. In no event can the increased loan amount exceed the maximum PPP loan amount $10
million for an individual borrower or $20 million for a corporate group.
Additionally, the borrower must provide the lender with required documentation to support the calculation of the increase. Any request for an increase must be submitted electronically in E-Tran on or before March 31, 2021, and is subject to the availability of funds.
117 This subsection was originally published at 85
FR 29842, subsection III.1.b. May 19, 2020 and has been revised to conform to sections 312 and 336 of the Economic Aid Act.

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8. Which other PPP borrowers can reapply or request an increase in their PPP loan amount? 118
The following borrowers can reapply or request an increase in their PPP loan amount:
a. If a borrower returned all of a PPP
loan, the borrower may reapply for a PPP loan in an amount the borrower is eligible for under current PPP rules.
b. If a borrower returned part of a PPP
loan, the borrower may reapply for an amount equal to the difference between the amount retained and the amount previously approved.
c. If a borrower did not accept the full amount of a PPP loan for which it was approved, the borrower may request an increase in the amount of the PPP loan up to the amount previously approved.
Any request for an increase must be submitted electronically in E-Tran on or before March 31, 2021, and is subject to the availability of funds. SBA will issue additional guidance on the process to reapply or request a loan increase under subsections D.6, D.7, and D.8.
9. If a borrowers PPP loan has already been fully disbursed, can the lender make an additional disbursement for the increased loan proceeds? 119
Yes. Notwithstanding the requirement set forth in paragraph 1.a. of the interim final rule on disbursements posted on April 28, 2020, i.e., that lenders make a one-time, full disbursement of the PPP
loan within ten calendar days of loan approval, if a PPP loan is increased under subsections D.6., D.7., or D.8., the lender may make a single additional disbursement of the increased loan proceeds.
10. Are recipients of PPP loans entitled to exemptions on the grounds provided in Federal nondiscrimination laws for sex-specific admissions practices, sexspecific domestic violence shelters, coreligionist housing, or Indian tribal preferences in connection with adoption or foster care practices? 120
Yes. With respect to any loan or loan forgiveness under the PPP, the nondiscrimination provisions in the applicable SBA regulations incorporate the limitations and exemptions provided in corresponding Federal statutory or regulatory 118 This subsection was added to conform to section 312 of the Economic Aid Act. See also recalculation available under subsection B.4.d.
above for farmers and ranchers.
119 This subsection was originally published at 85
FR 29842, subsection III.2.a. May 19, 2020 and revised to conform to section 312 of the Economic Aid Act.
120 This subsection was originally published at 85
FR 27287, section III.1. May 8, 2020.

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