PPP Covid-19 Relief Initiative Is Adjusted to Attract the Smallest Businesses
Small-business requests for money from the federal government’s signature Covid-19 relief initiative are running well below last year’s heady pace, prompting changes in the program’s final month to reach the hardest-hit businesses.
The Small Business Administration on Wednesday released new guidance on the changes to the Paycheck Protection Program. It revamped the formula for calculating loans to sole proprietors and some other businesses, making the program more attractive to the smallest firms.
Justin Burgess of Deco-Dence Gallery & Studio, a dealer of art deco furniture and a custom-furniture maker in Dallas, had initially decided not to apply for a second