SBA Prioritizes Smallest of Small Businesses in the Paycheck Protection Program
By EsqSocial Corporation 02/03/21
On Monday, February 22, 2021, President Biden announced changes to the Paycheck Protection Program (the “PPP”) aimed at providing relief to particularly small businesses and promoting equitable access to the PPP. Specifically, beginning on Wednesday, February 24, 2021 at 9:00 A.M. EST, the Small Business Administration established a two-week exclusivity period where only businesses and nonprofits with fewer than 20 employees will be able to apply for a PPP loan. In addition, there are four other...
By: Proskauer Rose LLP