Senate extends PPP guidance for tiny enterprises for 2 months
President Joe Biden visits W.S. Jenks & Son, a Washington, D.C., hardware retailer that benefited from a Paycheck Safety Application mortgage, on March 9, 2021.
Mandel Ngan | AFP | Getty Visuals
Nevertheless the updates were slated to get a lot more funding to the smallest businesses, lots of of which are minority- or ladies-owned, the timing produced confusion for a lot of. Sole proprietors, who would get more funds beneath the new calculation method, had been specially discouraged, specifically those who missed out on bigger financial loans by a handful of days.
In addition, the $1.9 trillion American Rescue Program, which President Joe Biden signed into regulation in March, awarded extra funding to the SBA. The invoice included $7 billion to grow PPP along with other provisions aiding little organizations.
Are you a little enterprise that recently bought a initially draw PPP loan and is seeking to get a 2nd attract PPP mortgage? E mail [email protected] to share your story.
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