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INFORMATION DIGEST
The information in this publication is provided only for educational purposes and to inform the reader of relevant topics. This is not to be perceived or utilized as financial, tax, or legal advice. It is up to the reader to seek the necessary and appropriate professionals that specialize in these areas for specific guidance.

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.

Eligible:

  • Pending misdemeanor charges
  • On probation or parole for older crimes

Not Eligible:

  • 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.

For immediate assistance, please call: 803-730-6466
MBDACOVID19Project.com

MBDA COVID-19 Project is committed to helping small businesses navigate the challenges of COVID-19.

Click here to submit your question >>>
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MBDA Business Center - Columbia, SC · 400 Percival Road · Columbia, SC 29206 · USA

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