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.
Giving Tuesday
As we move into 2024, we would be honored to have you engaged with EMPOWER as one of our supporters. Thank you again for your unwavering support; we look forward to staying connected in the future!
Letter to Alders
To Members of the Chicago City Council: Chicago small businesses have faced many challenges over the past several years and encountered numerous obstacles while attempting to recover from the devastating pandemic. Disinvested communities continue struggling to fill vacant storefronts, attract businesses, and foster economic development. We ask that you refrain from passing the Chicago Paid…
Chicago Paid Leave and Paid Sick and Safe Leave Ordinance
A press conference was held at City Hall to highlight concerns with the PTO ordinance and ask that changes to the ordinance be made. Hear from business owners, community advocates, and local chambers who passionately discussed their concerns and suggested possible improvements to the ordinance below. Over 30 chambers of commerce and place-based organizations sent…
