New PPP changes aim to serve businesses owned by marginalized communities

Jan 12, 2021
A Black-owned bank CEO in South Carolina says the new PPP applicants he's seen are businesses owned by women and people of color.
Applications have to go through community banking organizations — no big banks, for now, at least.
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Next round of PPP loans starts Monday

Loan money can be used to cover more expenses this time around — not just payroll, but also to buy supplies.
Larger companies initially took advantage of the Paycheck Protection Program, which was intended to offer forgivable loans to smaller businesses.
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New Paycheck Protection Program will have more restrictions than the first

Jan 6, 2021
This new round of PPP will only be available to companies with fewer than 300 employees.
A boy gets his hair cut at a barbershop in Austin, Texas, on May 8.
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Small business owners eye a second Paycheck Protection Program loan

Dec 23, 2020
Some previous applicants say they're weighing past experiences, as they decide whether to apply again.
A restaurant employee moves between tables outside of a restaurant in Manhattan on Dec. 11 in New York City.
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How one small business pivoted when it couldn't get a PPP loan

Dec 22, 2020
A South Carolina media producer is among the companies rethinking their business models to address needs created by the pandemic.
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What small business owners might expect from Biden

Dec 7, 2020
Biden has pledged to provide additional resources for small businesses. Business owners say the type of aid matters.
Biden has called for flexible grants to businesses that have lost substantial revenue. He also wants to refocus the Paycheck Protection Program on businesses with fewer than 50 employees, instead of the current 500.
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Community banker says small businesses need more help

Dec 4, 2020
Months after the Paycheck Protection Program rollout, many loan recipients are struggling.
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Baltimore restaurant owner launches incubator for Black micro businesses

Nov 26, 2020
Terence Dickson wants to make sure Black business owners don't keep missing out on small-business relief.
Terence Dickson stands in front of "Big Blue," a delivery truck he's converted into an outdoor bar at his restaurant in Baltimore.
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Paycheck Protection Program loan recipients face a new challenge: Taxes

Nov 17, 2020
As the year draws to a close, small business owners are starting to figure out their tax liabilities for 2020. That's complicated for businesses that got Paycheck Protection Program loans.
Empty chairs are seen inside a restaurant in New York on Nov. 13, 2020. Businesses whose PPP loans are forgiven are not allowed to claim deductions on expenses that were paid for using loan money.
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