New Financial Relief Available For Small Businesses In Northfield

Northfield MN

25 February, 2021

4:53 AM

Description

Press release from the City of Northfield: February 24, 2021 In order to reach the smallest businesses, Small Business Administration (SBA) will offer Paycheck Protection Program (PPP) loans to businesses with fewer than 20 employees and sole proprietors only from Wednesday, February 24 through Wednesday, March 10, 2021. President Biden has also announced additional program changes to make access to PPP loans more equitable. Specifically, on Wednesday, February 24, 2021 at 9 a.m. ET, the SBA will establish a 14-day, exclusive PPP loan application period for businesses and nonprofits with fewer than 20 employees. This will give lenders and community partners more time to work with the smallest businesses to submit their applications, while also ensuring that larger PPP-eligible businesses will still have plenty of time to apply for and receive support before the program expires on March 31, 2021. Small business guidance and loan resources Small business guidance and loan resources in Spanish This press release was produced by the City of Northfield. The views expressed here are the author's own.