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.
SBAC Oktoberfest ’23
Oktoberfest war ganz Spaß! (Oktoberfest was really fun!) If you missed our event and would like to contribute to the SBAC, please click on the button to the right. The SBAC works diligently to advance policies that support small businesses, their employees and the revitalization of neighborhoods. ***The Small Business Advocacy Council has been determined…
Chicago Neighborhood Revitalization Caucus
This is a crucial time for lawmakers to support policies that will revitalize neighborhood business districts and support Chicago small businesses. Therefore, we have formed a neighborhood revitalization caucus where politicians from various facets of government can come together, collaborate with stakeholders, and work to revitalize local economies. We are very thankful to the following…
Chicago Women’s Expo – Mentee Shelley Carrillo!
DONATE After submitting Shelley and her business for the Ultimate Women’s Expo, which has been running strong for now 30 years in Illinois and other cities like Atlanta, Miami, New York to name a few, Shelley has been accepted and now one of the feature vendors! Out of hundreds of vendors, Shelley’s standout and unique…
