Self-employed and gig workers who have been waiting for new rules that would mean larger forgivable loans through the Paycheck Protection Program can now move forward with their applications.
As of Friday, the Small Business Administration is ready to accept and process updated PPP applications from sole proprietors looking to take advantage of a new loan calculation, the agency confirmed.
This means that sole proprietors can finally submit their applications to lenders, who can send them on to the SBA to be processed under the new loan calculation guidelines.
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