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.
VERITY, INC
The Verity Group is a hybrid consultancy that provides technology and support services to law firms and corporations. We specialize in blending Information Technology with best practices in e-Discovery, paper discovery, knowledge management, and document review. As a legal service provider, we provide a seamless end-to-end solution to the discovery lifecycle. To become a trusted…
WINEBERG SOLHEIM HOWELL & SHAIN PC
Wineberg Solheim Howell & Shain PC offers accounting and consultation services to its clients. The Company provides services including tax, accounting, family office, personal finance, business consulting, and electric filing services. Wineberg Solheim Howell & Shain provides consultation services in areas including debt, finance, pension plans, cash flow, and investment. Wineberg Solheim Howell & Shain…
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