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.
Cutting Red Tape in Zoning: Neighborhood Revitalization Coalition
How can we cut red tape for small businesses through zoning? In the City of Chicago, every business license, location expansion and change of location application needs to be reviewed and approved by the Zoning Board of Appeals before a business license application can be processed. For a business owner to submit proper documentation, they…
Neighborhood Development and Investing with Community Investment Corp. & Woodlawn
Please join the Woodlawn Chamber of Commerce and the Community Investment Corporation (CIC) via Zoom to discuss targeted investments and working with the organization. Hear about community investment ideas. Learn about the Woodlawn – specific lending program. Understanding steps to work with CIC. Register here: https://www.ticketfalcon.com/e/cic/ SPONSORS Fifth Third Bank Saul…
Our Annual SBAC Golf Outing is BACK!
IT’S OFFICIAL! WE’RE GOING GOLFING! We are thrilled to announce that registration for the 13th Annual SBAC Golf Outing is NOW OPEN! The annual golf outing is a chance to relax and have fun with fellow SBAC members and guests! And it’s in-person! So invite your golf buddies and join us on Wednesday, June 29, 2022…
