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Big changes to PPP announced by the White House
SBA set to introduce major changes to PPP to assist micro businesses. The headlines are:

From Wednesday February 24 9.00am introduce a 14-day, exclusive PPP loan application period for businesses and nonprofits with a headcount of fewer than 20 employees.

From the first week of March:

Allow sole proprietors, independent contractors, and self-employed individuals to receive more financial support by revising the PPP’s funding formula for these categories of applicants.

Ensure access for non-citizen small business owners who are lawful U.S. residents by clarifying that they may use Individual Taxpayer Identification Number (ITIN) to apply for the PPP.

Eliminate an exclusionary restriction on PPP access for small business owners with prior non-fraud felony convictions, consistent with a bipartisan congressional proposal.

If you want to know more then register for this free webinar HERE hosted by the City of San Jose on Thursday February 25 at 1.00pm. The SBA will be rolling out new regulations and forms soon.

Feb 25, 2021 01:00 PM in Pacific Time (US and Canada)

Webinar is over, you cannot register now. If you have any questions, please contact Webinar host: San Jose Small Business Team.