SBA Issued Updated Interim Final Rule and Application for the Paycheck Protection Program
- are employers of household employees (such as nannies or housekeepers);
- are financial businesses;
- are passive businesses owned by developers and landlords;
- derive more than one-third of gross revenue from legal gambling activities; and
- are private clubs and businesses which limit the number of memberships for reasons other than capacity.
The Interim Final Rule does advise that additional final guidance will be issued on matters such as the applicability of affiliation rules at 13 CFT 121.103 and 121.301 to the PPP loans and loan forgiveness.