The Second Draw Rules address the new PPP loans available for borrowers. These are generally subject to the same terms and conditions as the first draw PPP loans, which are described more fully below. The Consolidated Initial Rules, in the SBA’s own words, primarily “restates existing regulatory provisions to provide lenders and new PPP borrowers a single regulation to consult on borrower eligibility, lender eligibility, and loan application and origination requirements, as well as general rules on increases and loan forgiveness for PPP loans.”[1] To enhance the “readability” of the guidance, the Consolidated Initial Rules generally does not include the policy and legal justifications for the existing regulatory provisions, but those can be found in the original interim final rules.