Businesses that are not eligible for PPP loans are identified in 13 CFR 120.110 and described further in SBA’s Standard Operating Procedure (SOP) 50 10, Subpart B, Chapter 2, except that nonprofit organizations authorized under the Act are eligible. (SOP 50 10 can be found at document/sop-50-10-5-lenderdevelopment-company-loan-programs.)

Section 2(c) of April 3 Guidance