Latest Changes to PPP Program Include Bigger Loans for Schedule C Filers
As previously reported here, President Biden directed the Small Business Administration (SBA) to impose an exclusive two-week window where only the smallest businesses – those with fewer than 20 employees and sole proprietors – can apply for Paycheck Protection Program (PPP) loans. He also instructed the SBA to change the loan calculations so certain small businesses could get bigger loan amounts, and ease certain eligibility restrictions. The restricted window on new PPP loan applications…