The Small Business Administration (SBA) announced an Interim Final Rule, effective March 3rd, related to loans made under the Paycheck Protection Program. Under the Interim Final Rule, the following revisions have been made:
Individuals who file an IRS Form 1040, Schedule C, are now allowed to calculate their maximum loan amount using gross income.
The eligibility restriction that prevents businesses with owners who have non-financial fraud felony convictions in the last year from obtaining PPP loans has been removed.
The eligibility restriction that prevents businesses with owners who are delinquent or in default on their Federal student loans from obtaining PPP loans has also been removed.
The SBA has some key changes to the Paycheck Protection Program (PPP) which will be available for a limited amount of time to ensure America’s smallest businesses get exclusive access. If you are a small business owner with 20 employees or less, or are self-employed; there is new information for you.
A series of webinars is being hosted by the U.S. SBA, Public Private Strategies Institute, & other stakeholders. You will hear about:
What steps you can take now to take advantage of this special opportunity, which closes at 5:00 P.M. EST, Tuesday, March 9th, 2021.
Additional changes and recent policy announcements made by Biden-Harris Administration
There are important changes to the PPP helping sole proprietors, independent contractors, and self-employed individuals receive more financial support.
In this timely webinar, Small Business Majority's Brian Pifer outlines the small business provisions in the current iteration of the stimulus relief package, as well as the latest changes to the PPP.
SCORE is a nonprofit association dedicated to helping small businesses get off the ground, grow and achieve their goals through education and mentorship. We have been doing this for more than 50 years.
Because our work is supported by the U.S. Small Business Administration, and thanks to our network of 10,000+ volunteers, we are able to deliver our services at no charge or at a very low cost. Find out more about our mission, vision and values.
Funded in part through a Cooperative Agreement with the U.S. Small Business Administration. All opinions, conclusions, and/or recommendations expressed herein are those of the author(s) and do not necessarily reflect the views of the SBA.
