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.
- $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.
Insights Archive
Small Business Job Creation Act
Like Share Tweet SBAC INSIGHTS PAGE Small Business Job Creation Act Find and Contact Your Elected Officials HERE! Resources & Fact Sheets Download Quick Fact
Breaking Barriers: How Tax Incentives Empower Employers to Hire Reentry Populations and Transform Communities
Facebook Linkedin-in Instagram Twitter Youtube Like Share Tweet SBAC INSIGHTS PAGE Breaking Barriers: How Tax Incentives Empower Employers to Hire Reentry Populations and Transform Communities
Saul Ewing: Key Employment Law Changes and Regulatory Developments
Facebook Linkedin-in Instagram Twitter Youtube Like Share Tweet SBAC INSIGHTS PAGE We’re excited to share some insightful articles from our valued partner, Saul Ewing LLP,