Sen. Jason Barickman (R-Bloomington) wants small businesses to know that the priority access to the PPP loan ends March 10. | Photo Courtesy of Jason Barickman
Sen. Jason Barickman (R-Bloomington) wants small businesses to know that the priority access to the PPP loan ends March 10. | Photo Courtesy of Jason Barickman
Republican state Sen. Jason Barickman (R-Bloomington) reminded small business owners hit hard by COVID-19 that they have until Wednesday, March 10, to apply for prioritized Paycheck Protection Program (PPP) loans through the Small Business Administration program.
The program offers owners with 20 employees or fewer to apply for the funds. It has been accepting applications since Feb. 24.
The loans are intended to help business owners keep their workforces intact throughout the crisis.
The payroll program is also open to sole proprietors in assuring that the government funds are more equitably distributed.
The President Joe Biden Administration carved out special accommodations for small businesses to apply for the program. These businesses received a two-week advantage to seek COVID-19 financial relief before being opened up to a larger pool of applicants.
The temporary policy is meant to provide equitable access as the nation's economy recovers.
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