COVID-19 IMPORTANT PPP LOAN INFORMATION FOR SMALL BUSINESSES

Dear Friend, 

A year into the devastating COVID-19 pandemic, and our small businesses continue to struggle. Small businesses provide pathways to the middle class for millions of workers and their families and are integral parts of communities across Southern Arizona. I have advocated and voted for federal resources to provide much-needed relief to many of these businesses, but some of the most vulnerable have still not received the support they need. Sadly many of the smallest-, minority-, women-, and veteran-owned small businesses did not receive the funding as the previous administration spirted funds away to well-connected and larger businesses.

This week, President Joe Biden announced changes to the Paycheck Protection Program that will ensure these small businesses have access to necessary funding to weather the ongoing COVID-19 pandemic. The changes will:

• Open the program to sole proprietors, independent contractors, and self-employed individuals;
• Remove barriers to noncitizen small business owners applying for funds;
• End restrictions on PPP access for small business owners with prior non-fraud felony convictions;
• Eliminate restrictions on small business owners struggling to make student loan payments; and
• Create a special two-week period in which only businesses with fewer than 20 employees can apply for relief.

These actions by the Biden Administration restore the program’s original intent and equitably distribute relief funds so that communities of color are not left behind.

INSTRUCTIONS FOR SPECIAL TWO-WEEK APPLICATION PERIOD:

The special two-week period for small businesses with fewer than 20 employees to apply for Paycheck Protection Program loans opens on Wednesday, February 24 at 9:00 a.m. ET and will continue through Wednesday, March 10. The other four changes will be implemented by the first week of March.

Click here to begin a Paycheck Protection Program loan application.

The 14-day special period is designed to give lenders more time with small businesses to successfully submit their applications. Larger businesses will still have plenty of time to submit their applications before the PPP program expires on March 31, 2021.

As always, my office is here to help if you have any difficulties getting the relief your business needs during this difficult time. Please call my office at 520-622-6788 or email us at az03rg_casework@mail.house.gov if you have any questions.

Stay Safe,