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.
Neighborhood Revitalization Coalition Agenda
Revitalize, Empower, and Connect The NRC is working hard to support and revitalize neighborhood business districts. You can find some of the policies we are advocating for here: NRC Agenda SPONSORS Fifth Third Bank Saul Ewing Arnstein Lehr Inland Bank Tandem HR Interprenet Signature Bank Lexitas Korey Richardson Open One Solutions Freeborn and Peters Founders…
Logan Square Activation Ribbon Cutting
Thank you Logan Square Chamber of Commerce for having us! The SBAC and our Neighborhood Revitalization Coalition had the pleasure of attending the Solidary Triangle Plaza Activation hosted by the Logan Square Chamber of Commerce. We spoke with some of the great people of Logan Square about our goals to revitalize, empower and connect Cook…
REVITALIZATION IN THE NEWS: Hyde Park Farmers Market Opens Sunday!
The Hyde Park Farmers Market will return to the parking lot behind the Hyde Park Bank Building, 1525 E. 53rd St., this Sunday, June 5. The Hyde Park Farmers Market will return to the parking lot behind the Hyde Park Bank Building, 1525 E. 53rd St., this Sunday, June 5. The event is co-hosted…
