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
NRC New Look, New Logo, Same Mission
New Look, New Logo, Same Mission In our 2nd year of actively and ardently working to revitalize neighborhoods throughout Chicago, we thought we’d bring a
Forum on Small Businesses and Child Care
Like Share Tweet The cost of affordable and quality childcare has kept people from re-entering the workforce. This has significantly impacted many small businesses that
Thank you for joining us at the 2022 SBAC C.A.N Holiday Party!
THANK YOU for attending our 2022 SBAC C.A.N Holiday Party!! Thank you to everyone who came out to our Holiday Party on December 1st, 2022