From the U.S. Chamber
The Biden Administration has announced changes that impact access to Paycheck Protection Program (PPP) loans. The Small Business Administration (SBA) will only accept applications for PPP loans from businesses and nonprofits with fewer than 20 employees for two weeks starting from February 24th. After the two-week period ends, all other companies that have not already applied for first- and second-draw PPP loans will be able to apply until March 31, 2021. The SBA also initiated additional changes designed to “open the PPP to more underserved small businesses.” Read more from the SBA here.
In order to bring more clarity, compiled here are some of the most popular questions that have been asked and answered during our Small Business Update series and National Small Business Town Halls from the U.S. Chamber of Commerce. These virtual events have featured expert commentary on PPP and other issues facing small businesses during this uncertain time.