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By Robert J. Waine, Esquire
Rothman Gordon
Pittsburgh, Pennsylvania

On Monday February 22, 2021, the President announced changes to PPP loans to help small businesses. Beginning Wednesday, February 24, 2021, at 9:00 a.m., the SBA will establish a 14-day PPP loan application period that is exclusively for businesses and nonprofits with fewer than 20 employees. This exclusive period is designed to give lenders and community partners time to work with the smallest businesses while leaving sufficient time for larger businesses to apply for a PPP loan before the application period for the program expires on March 31, 2021.

The SBA also announced four additional changes to PPP loans to open the program up to underserved small businesses. The changes are:

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