The government is preparing to restart its central small-business relief program.

The federal authorities launched up to date guidelines for lenders simply earlier than midnight on Wednesday for the subsequent spherical of Paycheck Safety Program lending, however it didn’t set a date for when it expects to start taking functions.

Lenders anticipate this system may restart as quickly as subsequent week. Final month’s stimulus package deal included $284 billion for new loans by the small-business reduction program, which led to August after distributing $523 billion to greater than 5 million companies. On this subsequent spherical, the hardest-hit enterprise — these whose gross sales have dropped a minimum of 25 p.c from earlier than the pandemic — can qualify for a second mortgage. First-time debtors can even be eligible for loans.

The Small Enterprise Administration, which runs this system, plans to provide small lenders a head begin. In its first two days, this system will settle for mortgage functions solely from group lenders like Neighborhood Growth Monetary Establishments, which focus on working with low-income debtors and in areas underserved by bigger lenders.

For second loans of greater than $150,000, candidates might want to present their lender with information proving their gross sales have declined. Lenders might want to do a “good religion assessment” of these paperwork, however might be allowed to depend on debtors’ certifications that their claims are correct — a win for lenders, that are involved about being held liable for fraudulent claims.

For smaller loans, debtors won’t want to supply their gross sales information as a part of their software, however the S.B.A. can request them later.

The S.B.A. is scrambling to launch a wide range of reduction measures included in final month’s stimulus invoice, together with a $15 billion grant program for music golf equipment, theaters and different live-events venues. The company has not but launched any particulars on that program, and it’ll not begin till after President-elect Joseph R. Biden Jr. takes workplace.

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