President Biden has announced new SBA PPP and PPP2 rules to help small businesses, black businesses, diverse, minority owned, women owned businesses. The new Paycheck Protection Progam rules help self-emplyed, sole proprieters, independant contractors and 1099 businesses. Our office can help you prepare, submit and follow up to obtain a share of the money set aside by the SBA. The SBA rules, announced by Joe Biden on February 24th, have been revised to address the systemic business issues facing black owned businesses, MBE, WBE and small businesses with fewer than 20 employees. My law practice has helped black, hispanic, women and small businesses through the 36 years I have been practicing. We want to use these new SBA rules to help you succeed and keep you out of bankruptcy.
The SBA PPP and PPP2 rules themselves and paperwork can be overwhelemning. The timeframe to apply is a short window and is running right now. You are already under pressure and emotionally it is very difficult to focus; we can put the application together and guide you through follow up, right up until the money is electronically deposited into your bank account. You must act now as the best chance to get your PPP money is through March and it takes a week or more to get this done. You may also qualify for PA state funding and that has a very short time frame. We have relationships with bankers if you do not have a solid, dependable bank with a banking relationship which you trust and works with you.
The Biden Payroll Protection Plan rule changes are: The amount of your loan is now based upon your business’ gross income, not your profitability so if you received $1 last time you can get real money now. You are eligable whether you received PPP round one money or not. Unlike previously, you are now eligable even if you have defaulted on student loans or have been convicted of a felony. Joe Biden and SBA PPP want to put cash into the bank accounts of low and moderate income businesses and neighborhoods. This means your business account. Putting together your package can be daunting. We can help. The new rules are a compressed time-frame and you must get started. Call now. 215-822-2728.