A Special 2-Week PPP Window for Companies with Fewer than 20 Employees

Filed in Advocacy, Disaster Response by on February 22, 2021 3 Comments

PPP loanThe Biden administration is establishing a two-week window starting on Wednesday, Feb. 24, in which only businesses with fewer than 20 employees — the overwhelming majority of small businesses — can apply for Paycheck Protection Program (PPP) forgivable loans.

Biden’s team is also carving out $1 billion to direct toward sole proprietors, independent contractors and self-employed individuals, such as home repair contractors and small independent retailers. The majority of these businesses — those without employees — are 70% owned by women and people of color.

In making the announcement, the White House said that “these businesses often struggle more than larger businesses to collect the necessary paperwork and secure relief from a lender. The 14-day exclusive application period will allow lenders to focus on serving these smallest businesses. The Biden-Harris administration will also make a sustained effort to work with lenders and small business owners to ensure small businesses take maximum advantage of this two-week window.”

For more information, contact Alex Strong.

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Comments (3)

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  1. Please can someone speak to the building codes in Texas? Did they NOT require insulation in the walls? How could this level of severity come about with these residential houses?

    • Chad Huber says:

      My personal home = R30 in exterior walls with a stone veneer. Frozen solid on day two. Well pumphouse = 2×6 exterior walls, batt insulation, 6″ slab = pressure tank inlet frozen solid on day 3 without electricity. It was cold. – Chad

  2. Douglas Pollet says:

    Are realtors eligible for any relief money?

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