• Frank Quintero

PPP Apps for Smallest Businesses Starts Feb. 24

SBA Prioritizes Smallest Businesses in Latest PPP Round

To encourage the smallest of small businesses and minority and women-owned businesses, the Biden-Harris administration has announced a 14-day exclusive PPP loan application period for businesses and nonprofits with fewer than 20 employes. The application period begins February 24.

As detailed in the news release, the SBA will:

  • Establish a 14-day, exclusive PPP loan application period for businesses and nonprofits with fewer than 20 employees

  • 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 federal student loan payments by eliminating federal student loan debt delinquency and default as disqualifiers 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 14-day exclusivity period will start on Wednesday, February 24, 2021 at 9 a.m., while the other four changes will be implemented by the first week of March.

Full Info from SBA:


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City of Merced

Office of Economic Development

678 W 18th St. Merced, CA 95340


800-723-4788 Toll Free

209-385-6827 Phone

209-723-1780 Fax


Frank Quintero

Director of Economic Development