Bankrupt business eligible for PPP loan

Despite the fact that the Small Business Administration promulgated an interim rule stating that a small business or nonprofit that had filed for bankruptcy protection could not obtain a loan under the Paycheck Protection Program of the CARES Act, a Bankruptcy Court in Florida has enjoined the SBA from using the rule to prevent a small business in bankruptcy from obtaining the loan.  The Court said that the Administrator had exceeded her authority in promulgating the rule.