TODAY: The Biden administration is launching a two-week period starting Wednesday for small businesses with fewer than 20 employees to apply for Paycheck Protection Program assistance. The exclusive period for these small business applicants to apply will end on 3/9. (1/)
The special period for really small firms is especially designed to help independent contractors, and self-employed individuals with PPP funding. White House notes that many of these businesses are owned by women and people of color.
Administration also making it easier for certain biz owners to apply: it’ll allow small business owners with prior non-fraud felony convictions to obtain PPP funds. And allow owners delinquent on federal student loans to apply. (3/)
The administration is also allowing biz owners who are lawful U.S. residents to apply by using Taxpayer Identification Numbers (ITINs) to apply for PPP. (4/)
Of the $285 billion allocated for PPP so far, a little under half way through the funds, White House official says. (5/5)
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