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Client Alert: Biden Temporarily Narrows Eligibility for PPP Loans

Yesterday, President Biden announced a temporary change to the popular PPP loan program, whereby only businesses with fewer than 20 employees will be eligible to apply for and receive PPP loans for the next two weeks.

The SBA also announced intentions to change the way it calculates the size of PPP loans for sole proprietors, independent contractors, and the self-employed.

Please see our client alert for more details.