Operation HOPE Offers Guidance for Small Business Owners Applying for PPP 2021
Congress has passed another round of the Paycheck Protection Program (PPP). Many minority business owners were left out of the first round of funding due to insufficient “back office” paperwork and employee requirements that aren’t typical of minority-owned businesses. The new 2021 version of PPP expands the eligibility requirements for a number of business owners and contract workers who may not have been previously covered.
Operation HOPE’s President and Chief Financial Officer, Brian Betts, gives an in-depth look at the new PPP and gives guidance on the distinctions between First and Second Draw PPP, and who is eligible to apply for both. Applications for a First Draw PPP loan close March 31, 2021.
Watch the video below to learn more. If you would like to connect with an Operation HOPE financial wellbeing coach to assist you with your application, find the coach nearest you at operationhope.org/our-locations