February 23, 2021
The Paycheck Protection Program application process will undergo some minor changes, according to President Biden’s administration. For the first two weeks of the the application period that opened on Wednesday, only firms with fewer than 20 employees will be eligible. Following that exclusive timeframe, it will reopen for the broader business population to apply. Additionally, eligibility has been expanded to include business owners with certain felony convictions, and the equations have changed to ensure that sole proprietors and very small businesses receive larger fund amounts.