And with the second round of funding arriving in 2021, the SBA did not change its position. Now, with the May 31 deadline for PPP loan applications looming, the SBA has published additional guidance, which provides that entities that have concluded a bankruptcy proceeding are not, for PPP eligibility, considered "presently involved in any bankruptcy." In its answer to Frequently Asked Question Number 67 about the PPP loan program, the SBA states that, for PPP eligibility purposes, a party is no longer involved in bankruptcy under these circumstances: Chapter 7 - The Bankruptcy Court has entered a discharge order.