UPDATE: Exclusive PPP Application Period Begins Today!

Posted on February 24, 2021


Now Prioritizing Businesses with 20 or Fewer Employees

From now until March 10, 2021, small businesses with 20 or fewer employees and sole proprietors will be given a two-week “head start” to apply for the Paycheck Protection Program (PPP) before the program is opened up to other businesses.

This exclusive opportunity will give minority-owned businesses, “mom-and-pop” shops, and smaller nonprofit organizations much-needed assistance and attention from lenders/community partners during a very challenging time.

The enrollment period for all businesses is set to expire on March 31, 2021, so if you qualify, please apply right away.

PPP APLLICATION HERE

Other changes include:

  • Self-employed and sole proprietors can now use gross income (versus net income) to calculate the PPP loan amount, increasing potential loan size.

  • Business owners behind on their federal student loan payments are now eligible for PPP loan forgiveness.

  • Clarification that non-citizen small business owners who are lawful U.S. residents can use an Individual Taxpayer Identification Number (ITIN) to apply for the PPP.

  • Small business owners with prior non-fraud felony convictions are no longer excluded from applying for PPP loans.

You may use SBA’s website to help you get matched with a lender or to find lenders in your area.

If you have any questions about the application process or the program itself, please reach out to me. I am always happy to assist and to serve as a resource for you and your family.

Email: Kimberly.Fiorello@cga.ct.gov

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