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SBA Confirms Paycheck Protection Loan Eligibility for Nonprofit Hospitals
Health Leaders: The Small Business Administration has made clear that some public hospitals are eligible for Paycheck Protection Program loans of up to $10 million.
Under guidance issued this week, the SBA said that: "Section 1102 of the CARES Act defines the term 'nonprofit organization' as 'an organization that is described in section 501(c)(3) of the Internal Revenue Code of 1986 and that is exempt from taxation under section 501(a) of such Code.'"
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