New PPP Rules for Sole Proprietors and Businesses with 20 or fewer Employees
From February 24th to March 9th, the Small Business Administration will accept applications for PPP loans for sole proprietors and businesses with fewer than 20 employees.
The move is meant to make it easier for businesses with few or no employees - sole proprietors, independent contractors, and self-employed people such as house cleaners and personal care providers - to apply that previously could not qualify due to business cost deductions.
In addition to the 2-week application period:
- $1 Billion will be set aside for low to moderate income areas, where businesses are mostly owned by women and people of color.
- Legal residents who are non citizens will not be excluded from the program.
- Will eliminate exclusions that prohibit a business owner who is delinquent on their student loans from applying to the program.
Please visit the SBA website for requirements, bank locations and further information.
REVITALIZATION IN THE NEWS: 51st Corridor Development
Vacant land being transformed to a multi-purpose unit! A development duo on the South Side of Chicago is bringing more restaurants, retail and housing to 51st Street Corridor. This multi-purpose unit will be built on a vacant space. Developments such as this are perfect examples of what can be done with the large number of…
Thank you for attending Rebound on the Rooftop!!
THANK YOU for attending our Rebound on the Rooftop on May 11, 2022!! It was such a beautiful evening, the weather was PERFECT, and we are so glad we got to see so many of you in person again! If you weren’t able to make it, we missed you! And we hope we’ll see you…
Cook County Assessor Candidate Forum
Join the SBAC and our partners on Thursday, June 9th for our Cook County Assessor Candidate Forum! We will be joined by Assessor Fritz Kaegi, Commissioner Kari Steele and Nico Tsatsoulis and explore their views on stability, fairness, equity and transparency as it pertains to the Cook County property tax system. We will also discuss…
