Biden Administration Changes PPP Again, Announces Exclusive Window for Small Businesses, Sole Proprietors, and Independent Contractors | Ballard Spahr LLP
The Biden Administration announced further changes to the Payroll Protection Program (PPP). These changes are aimed at increasing lending to small business and independent contractors, removing barriers to borrowing, enhancing transparency, reducing fraud, and increasing the program’s engagement with other would-be borrowers. Beginning this Wednesday, February 24, only businesses with fewer 20 employees can apply for PPP loans (first and second draw) for a period of 14 days (until March 10) to increase access by the smallest businesses. The Administration also announced that it will implem...
Source: jdsupra.com