Looming Deadline and Last-Minute Changes Hinder P.P.P. Loans
Lenders are struggling with a new Paycheck Protection Program rule intended to get more money to sole proprietors â and some banks are simply refusing to make the change.
President Biden announced changes to the Paycheck Protection Program in February meant to increase aid to the smallest businesses, but the changes were slow to go into effect.Credit.Doug Mills/The New York Times
Published March 9, 2021Updated March 16, 2021
The latest revision of the Paycheck Protection Program appeared to be a victory for the most vulnerable small businesses, offering more generous relief to companies like solo ventures that were eligible for only tiny loans â or none at all.
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