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.
In addition to the 2-week application period:
- $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.
Chicago Paid Time Off Ordinance Final Rules
SBAC INSIGHTS PAGE Helpful Resources: Chicago Labor Laws Educational Resources: You can find law-specific fact sheets for all Chicago Labor Laws, as well as additional resources focused on Chicago’s Paid Leave and Paid Sick Leave Ordinance. Overview of Chicago’s Paid Leave and Paid Sick and Safe Leave Ordinance Webinar – May 22, 2024 Descripción General…
Join the Small Business Advocacy Council’s District Advocate Program!
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SBAC 2023 Holiday Party
Did you miss it? We had a great time at George Street Pub for the SBAC’s annual Holiday party. Wow – what an incredible turnout – busting out the venue with almost 100 folks! Thank you for coming to celebrate the SBAC and its work in the Illinois communities. We are excited to watch 2024…
