Paycheck Protection Program sees changes in operations

The Joe Biden-Kamala Harris Administration and the U.S. Small Business Administration (SBA) are making operational changes to the U.S. Paycheck Protection Program (PPP) in order to create more equitable relief for American small businesses according to a press release.

The SBA will:

• Establish a 14-day, exclusive PPP loan application period for businesses and nonprofits with fewer than 20 employees.

• Allow sole proprietors, independent contractors and self-employed individuals to receive more financial support by revising the PPP’s funding formula.

• Eliminate an exclusionary restriction on PPP access for small business owners with prior non-fraud felony convictions, consistent with a bipartisan congressional proposal.

• Eliminate PPP access restrictions on small business owners who have struggled to make federal student loan payments by eliminating federal student loan debt delinquency and default as disqualifiers to participating in the PPP.

• Ensure access for non-citizen small business owners who are lawful U.S. residents to apply for the PPP by clarifying that they may use their Individual Taxpayer Identification Number (ITIN). 

The 14-day exclusivity period will begin at 9 a.m. Wednesday, Feb. 24 while the other four changes will be implemented by the first week of March.

“The important policy changes we are announcing further ensure inclusivity and integrity by increasing access and much-needed aid to Main Street businesses that anchor our neighborhoods and help families build wealth,” SBA Senior Advisor Michael Roth said in a press release.

Borrowers can apply for the PPP by downloading the First Draw PPP loan application or Second Draw PPP loan application at Those interested can also work with a participating PPP lender through the SBA Lender Match tool at

Updated information regarding PPP can be found on and


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