NAYZE MEDIA 2/22/2021 5:23pm(est)
It’s funny what happens when you put a person in charge who actually knows what they are doing. Under the rules of the old Paycheck Protection Program (PPP), loans were available for any business that had 500 employees or less. I don’t know about you, but I don’t consider a business with 500 employees “small.” When the PPP loans came out the first time, most of the money was sucked up by big businesses who were looking for a quick come up. Of course, the banks gave them loans. Big businesses have plenty of collateral. Most small businesses don’t. And this is where the little man got screwed over. Banks bypassed the very people who the loans were supposed to be for, in favor of the bigger businesses. The whole thing felt like a con-job, not the government trying to help out small business in danger of going under, like the program was advertised by the former administration.
The new administration is looking to change the old ways of the prior administration. Joe Biden gave a speech on Monday afternoon where he announced his new plan. The new plan calls for PPP loans to exclusively be given to small business with less than 20 employees, for two weeks, starting on Wednesday. But, experts say less and less business are going after the loans at all anymore. Back in April of last year when the program was launched, the program held around $349 billion that was exclusively to loan to small business. That money ran out in two weeks. Congress approved another $320 billion for the program in May. The program expired in August, with more than $130 billion still unused. The program was relaunched this past January with $284 billion more in funds. A Biden official said that there was still about $150 billion still unused from the new funds.
The changes The Biden Administration made to the program, is to hopefully get some of those billions of dollars into the hands of small business owners with less than 20 employees, and business with no employees, sole proprietors, independent contractors, and self employed individuals. I definitely qualify for that change, and I’m going to try to get my piece! You probably qualify too! Remember, the program begins taking applications for businesses with less than 20 people, self employed, sole proprietors, etc.., this Wednesday Feb 24th! Follow this link to the Small Business Association’s webpage and get your money!!! https://www.sba.gov/
NAYZE MEDIA 