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Posted: April 24, 2020

The Small Business Administration on April 24, 2020, updated guidance for the Paycheck Protection Program.

The update, in the form of an interim final rule, ensures that small Indian gaming operations can secure loans backed by the program. Previously they were excluded.

According to the document, the interim final rule was adopted was after the SBA consulted with the Department of the Treasury, its parent agency. The relevant portion reads:

Are businesses that receive revenue from legal gaming eligible for a PPP Loan?

A business that is otherwise eligible for a PPP Loan is not rendered ineligible due to its receipt of legal gaming revenues, and 13 CFR 120.110(g) is inapplicable to PPP loans. Businesses that received illegal gaming revenue remain categorically ineligible. On further consideration, the Administrator, in consultation with the Secretary, believes this approach is more consistent with the policy aim of making PPP loans available to a broad segment of U.S. businesses.”

Prior Stories:

‘We keep getting left out’: Tribal gaming remains locked out of $349 billion coronavirus relief program

‘We need clarification now’: Indian gaming industry being shut out of coronavirus relief program

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