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.
A Great Week with the Community!
Thank you Rodgers Park Business Alliance for having us! The SBAC and our Neighborhood Revitalization Coalition had the pleasure of attending the Glenwood Avenue Arts Festival this past this Sunday. We had a great time talking to some of the fantastic people of Rodgers Park about or efforts to revitalize, empower and connect Cook County’s…
NRC Events This Week
We Are Coming to Your Neighborhood! The Neighborhood Revitalization Coalition will be at local events this week promoting our robust agenda to revitalize, empower, and connect Cook County business districts! Here is a link to our Calendar: NRC Calendar | SBAC We will be attending the following events: Logan Square Farmers Market 3107 W Logan…
NRC This Weekend: Hyde Park Farmers Market July 24th
Come join us this Sunday! Come join the Neighborhood Revitalization Coalition this Sunday at the Hyde Park Farmers Market! We will be at the market promoting the NRC’s robust agenda and talking to the amazing community of Hyde Park. Information for the event is below. We hope to see you there! Hyde…
