image credit: Pxhere

Smallest businesses get exclusive PPP application window

February 23, 2021

The administration said the SBA will now calculate the loan amount for applicants without employees by using gross income instead of payroll.

Businesses without employees were structurally excluded from the program or were approved for as little as $1 because of how their PPP loans were calculated, the administration said. establish a $1 billion set-aside for businesses without employees located in low- and moderate-income communities.

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