New Administration Extends Small Business Loans Deadline and Adds Policy Changes

March 2, 2021, 4:22 p.m. ·

Photo by Mike Petrucci on Unsplash

Applications for business loans through the federal paycheck protection program (PPP} have been extended through the end of the March. Businesses with fewer than 20 employees can apply early before larger businesses until March 10th.

Leon Milobar is the district director for the Nebraska district office of the Small Business Administration and recommends businesses apply as soon as possible.

"If your business has been impacted because of the economy, this is the loan program," he said. "If you haven't applied in the past, that there is financial assistance that is available through the the PPP loan program, and the application is through the bank. The guidance, all the qualifications and the requirements are all available online."

Milobar said there have been some changes to the PPP rules for sole proprietors and smaller businesses that are more generous to them. The U.S. Small Business Administration and Public Private Strategies Institute will host webinars tomorrow through Monday for businesses to learn about key changes and recent policy announcements made by the Biden-Harris Administration.