SBA Announces Exclusive Paycheck Protection Program Access for Smallest Businesses
February 2021 --
In order to reach the smallest businesses, the Small Business Administration (SBA) will offer Paycheck Protection Program (PPP) loans to businesses with 20 or less employees and sole proprietors only from Wednesday, February 24 through Wednesday, March 10, 2021. President Biden has also announced additional program changes to make access to PPP loans more equitable.
In addition, SBA has announced additional modifications to the PPP – one example is including enhanced flexibility for sole proprietors and independent contractors.