--- title: New PPP Loan Provisions for Small Businesses - Ahola description: On Feb. 22, the SBA published some changes to the PPP program that makes it more accessible to small businesses. Click through for details. image: https://blog.ahola.com/hubfs/Imported_Blog_Media/qtq80-gBJu8p.jpeg --- Start typing and press Enter to search * * # New PPP Loan Provisions for Small Businesses [Home](https://www.ahola.com/) » [News & Events](https://blog.ahola.com/new-ppp-loan-provisions-for-small-businesses) » New PPP Loan Provisions for Small Businesses [2021-02-24%2010:12:26](2021-02-24%2010:12:26) ![](https://blog.ahola.com/hubfs/Imported_Blog_Media/qtq80-gBJu8p.jpeg) ## New PPP Loan Provisions for Small Businesses By [ aholaadmin ](https://blog.ahola.com/author/aholaadmin)  Posted [ February 24, 2021](2021-02-24%2010:12:26)  In  [Payroll](https://blog.ahola.com/tag/payroll), [Human Resources](https://blog.ahola.com/tag/human-resources), [Managing COVID-19](https://blog.ahola.com/tag/managing-covid-19), [Tax Compliance](https://blog.ahola.com/tag/tax-compliance), [Employees](https://blog.ahola.com/tag/employees), [Hiring](https://blog.ahola.com/tag/hiring) - - - - - Starting on Feb. 24, 2021, the SBA is establishing 14-day, exclusive PPP loan application period for businesses and nonprofits with fewer than 20 employees. This is according to guidance on the SBA and White House sites. According to the statement, this will give lenders and community partners more time to work with the smallest businesses to submit their applications. The SBA also announced four additional changes to open the PPP to “more underserved small businesses than ever before.” The SBA will: -Allow sole proprietors, independent contractors, and self-employed individuals to receive more financial support by revising the PPP’s funding formula for these categories of applicants. -Eliminate an exclusionary restriction on PPP access for small business owners with prior non-fraud felony convictions, consistent with a bipartisan congressional proposal. -Eliminate PPP access restrictions on small business owners who have struggled to make student loan payments by eliminating student loan debt delinquency as a disqualifier to participating in the PPP. -Ensure access for non-citizen small business owners who are lawful U.S. residents by clarifying that they may use Individual Taxpayer Identification Number (ITIN) to apply for the PPP. The statement further noted that a critical goal from Congress for the latest round of PPP was to reach small and low- and moderate-income (LMI) businesses who have not received the needed relief a forgivable PPP loan provides. Although Congress set a $15 billion set-aside for small and LMI first draw borrowers, the current round has only deployed $2.4 billion to small LMI borrowers, “in part because a disproportionate amount of funding in both wealthy and LMI areas is going to firms with more than 20 employees.” The SBA believes this special 2-week window and the other changes will allow the distribution of more funds. More details are available on the [**SBA loan resource site**](https://www.sba.gov/page/coronavirus-covid-19-small-business-guidance-loan-resources). The program is slated to end on March 31, although additional relief programs are expected before then. ### Reply a Comment ## RELATED POSTS [![](https://blog.ahola.com/hubfs/Imported_Blog_Media/pppfa-3.jpg) ](https://blog.ahola.com/view-webinar-paycheck-protection-program-flexibility-act-update) [[View Webinar] Paycheck Protection Program Flexibility Act Update](https://blog.ahola.com/view-webinar-paycheck-protection-program-flexibility-act-update) [![](https://blog.ahola.com/hubfs/Imported_Blog_Media/qtq80-ovGtB8.jpeg) ](https://blog.ahola.com/paycheck-101-what-does-everything-on-your-paycheck-mean) [Paycheck 101: What does everything on your paycheck mean?](https://blog.ahola.com/paycheck-101-what-does-everything-on-your-paycheck-mean) [![](https://blog.ahola.com/hubfs/Imported_Blog_Media/remote-owtk.jpg) ](https://blog.ahola.com/retaining-talent-in-the-post-pandemic-workplace) [Retaining Talent in the Post-Pandemic Workplace](https://blog.ahola.com/retaining-talent-in-the-post-pandemic-workplace) ## SUBSCRIBE ### Recent posts - [Professionalizing HR Without Losing Your Family Culture ](https://blog.ahola.com/professionalizing-hr-without-losing-your-family-culture) - [Why Encouraging Employees to Take Summer Vacation Benefits Your Workplace ](https://blog.ahola.com/why-encouraging-employees-to-take-summer-vacation-benefits-your-workplace) - [Ahola Named a 2026 Top Workplace — Six Years Running! ](https://blog.ahola.com/ahola-named-a-2026-top-workplace) - ### Topics - [Affordable Care Act (13)](https://blog.ahola.com/tag/affordable-care-act) - [Benefits (223)](https://blog.ahola.com/tag/benefits) - [Cybersecurity (1)](https://blog.ahola.com/tag/cybersecurity) - [Employee Engagement (255)](https://blog.ahola.com/tag/employee-engagement) - [Employees (603)](https://blog.ahola.com/tag/employees) - [Family Business Insights (10)](https://blog.ahola.com/tag/family-business-insights) - [Hiring (282)](https://blog.ahola.com/tag/hiring) - [Human Resources (645)](https://blog.ahola.com/tag/human-resources) - [Laws/Policies (26)](https://blog.ahola.com/tag/laws-policies) - [Managing COVID-19 (153)](https://blog.ahola.com/tag/managing-covid-19) - [News Release (56)](https://blog.ahola.com/tag/news-release) - [Offboarding (3)](https://blog.ahola.com/tag/offboarding) - [onboarding (7)](https://blog.ahola.com/tag/onboarding) - [Payroll (428)](https://blog.ahola.com/tag/payroll) - [Recruiting (142)](https://blog.ahola.com/tag/recruiting) - [Safety (121)](https://blog.ahola.com/tag/safety) - [Tax Compliance (230)](https://blog.ahola.com/tag/tax-compliance) - [Time & Attendance (124)](https://blog.ahola.com/tag/time-attendance) - [Training & Development (214)](https://blog.ahola.com/tag/training-development) - [Trending Topic (75)](https://blog.ahola.com/tag/trending-topic) - [Uncategorized (1)](https://blog.ahola.com/tag/uncategorized) - [Webinars (69)](https://blog.ahola.com/tag/webinars) - [Workers Comp (1)](https://blog.ahola.com/tag/workers-comp) [see all topics](https://blog.ahola.com/new-ppp-loan-provisions-for-small-businesses#) ### GENERAL DISCLAIMER This blog is for informational and educational purposes only. It does not constitute legal advice, and cannot constitute legal advice, because the authors are not licensed attorneys. Readers should not rely or act upon any information presented on this blog without seeking professional legal counsel. The views expressed in each post are those of the author, and the author alone; they are not the views of Ahola. The information provided in this blog is general, and based on information available as of the date of publishing. Information herein is provided on an “as is” or “as available” basis; we make no warranty of any kind to you regarding the information provided and disclaim any liability for damages from use of the blog or its content. Please consult an attorney to obtain advice with respect to any particular question or issue. 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