CTSBDC Presents: Paycheck Protection Program Updates
Upon directive from the new administration, the SBA is working on updating guidelines related to enhancements, clarifications, and ensuring access to PPP for the smallest businesses. Based on these, the SBA will:
- Establish a 14-day, exclusive PPP loan application period for businesses and nonprofits with fewer than 20 employees
- Allow sole proprietors, independent contractors, and self-employed individuals to receive more financial support by revising the PPP’s funding formula for these categories of applicants
- Eliminate an exclusionary restriction on PPP access for small business owners with prior non-fraud felony convictions, consistent with a bipartisan congressional proposal
- Eliminate PPP access restrictions on small business owners who have struggled to make federal student loan payments by eliminating federal student loan debt delinquency and default as disqualifiers to participating in the PPP; and
- Ensure access for non-citizen small business owners who are lawful U.S. residents by clarifying that they may use Individual Taxpayer Identification Number (ITIN) to apply for the PPP.
Instructions:
Free to attend. Registration required. If someone referred you to attend, please let us know in the "Referral From" section so we can thank them for helping us connect!
You will receive an automatically generated e-mail after registration, including the WebEx and call-in details towards the bottom. We also send a reminder containing the join-in details at 24 hrs. in advance of the event. Please note automated e-mails are sometimes re-routed to spam/junk boxes by e-mail providers.
CTSBDC Presents: Paycheck Protection ...
Date and Time
Thursday Mar 4, 2021
12:00 PM - 1:00 PM EST