The Biden Administration released a fact sheet on increasing lending to small businesses in need and changes to the Paycheck Protection Program (PPP) to further promote equitable access to relief. The fact sheet announces several changes to the PPP, including a 14-day period, starting Wednesday, February 24, during which only businesses with fewer than 20 employees can apply for relief through the Program. The intent is to help sole proprietors, independent contractors, and self-employed individuals receive more financial support.
