The US Small Businesses Administration (SBA) recently announced new Paycheck Protection Programs loans aimed at very small enterprises. Starting on February 24, 2021, SBA will begin accepting applications for Paycheck Protection Program loans exclusively for small businesses under 20 employees and sole proprietors. The application period will occur over a two week period – with the SBA accepting program applications through March 10, 2021.
If you own a small business with 20 employees or less or are a sole proprietor and are looking for a business loan to help with business costs during the pandemic, you can find information on the loans here. Borrowers may be eligible for loan forgiveness under certain criteria.