### Question
How is the term initial or second draw PPP loan defined?


### Answer
The term **initial or second draw PPP loan** is defined in *15 U.S.C. § 636m* as the following:

> a covered loan or a loan under paragraph (37) of section 636(a) of this title

#### Citation:
  - *15 U.S.C. § 636m*
  - Heading: **CHAPTER 14A-AID TO SMALL BUSINESS**

