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NASE Applauds New Eligibility Rules and Reforms for Payroll Protection Program, including Increasing the Share of Funds for the Small Business Community

FOR IMMEDIATE RELEASE: Monday, February 22, 2021
CONTACT:  Kristofer Eisenla, LUNA+EISENLA media
kristofer@lunaeisenlamedia.com | 202-670-5747 (mobile)

New Qualifying Calculations Allow for More Self-Employed to Qualify for Loan Program; Funds Can Be Used for Payroll and Qualified Expenses

WASHINGTON, D.C. – The Biden Administration today has released new eligibility rules and reforms to the Payroll Protection Program (PPP) that will impact the small business community. Keith Hall, president and CEO of the National Association for the Self-Employed (NASE), the nation’s leading advocate and resource for the self-employed and micro-business community, today applauded the decision saying:

“The revised PPP calculation and reforms released today is welcomed news for not only the self-employed, but the countless additional small businesses who will now be eligible to apply for loans they need to survive during this ongoing pandemic.

“We applaud the decision to prioritize PPP relief by targeting America’s smallest businesses, those businesses with 20 or less employees, and set aside dedicated funds and time period to service those loans.

“But this cannot be the end of support for the small business community. We call on our elected leaders from both sides of the aisle to work together to ensure the American small business community has the tools and resources they need to survive.”

The Biden-Harris Administration announced the news rules and reforms today intended to increase lending to the small business community while providing more equitable access to relief.

Hall previously called the American Rescue Plan “bold and ambitious” reflecting it “demonstrates a commitment that the American small business community including the self-employed and micro-businesses, won’t be left behind.” Hall also penned an op-ed in The Hill imploring our elected leaders in Washington to come together to support our nation’s small business community on issues ranging from COVID relief to affordable health care and ensuring tax equity and fairness.

To Speak with a NASE Small Business Expert, contact Kristofer Eisenla at kristofer@lunaeisenlamedia.com

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The National Association for the Self-Employed (NASE) is the nation's leading advocate and resource for the self-employed and micro-businesses, offering a broad range of benefits to help entrepreneurs succeed and to drive the continued growth of this vital segment of the American economy.

The NASE Next Biz Thing helps identify and connect our nation’s smallest businesses. Need small business help? Check out NASE’s Ask the Experts for advice or the NASE Minute for small business support.

The NASE is a 501(c) (6) nonprofit organization and provides big-business advantages to hundreds of thousands of micro-businesses across the United States. For more information, visit the association's website at NASE.org

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https://www.nase.org/about-us/media-relations/News/nase-in-the-news/2021/02/22/nase-applauds-new-eligibility-rules-and-reforms-for-payroll-protection-program-including-increasing-the-share-of-funds-for-the-small-business-community