PPP Loan Eligibility Expanded for Business Owners with Prior Convictions or Pending Charges
On June 24, the SBA issued a new rule allowing more small business owners with previous convictions to be eligible for the PPP loan. Small business owners with pending misdemeanor charges and those on probation or parole for older crimes are now eligible to apply.
However, business owners with pending felony charges, or those currently on probation or parole for a felony offense committed within the last year, and five years for those with financial crimes, are still barred from eligibility.
- Pending misdemeanor charges
- On probation or parole for older crimes
- Pending felony charges
- Currently on probation or parole for a felony offense committed in the last year
- Currently on probation or parole for financial crimes committed within the last five years
The Enterprise Center Capital Corporation is processing applications. For more information or to apply, click here.