Idaho credit union discusses changes to Paycheck Protection Program
The Small Business Administration is prioritizing the smallest of small businesses
TWIN FALLS, Idaho (KMVT/KSVT) —The Small Business Administration is prioritizing the smallest of small businesses with recent changes to the Paycheck Protection Program.
Starting Wednesday a 14-day window will only open up for businesses with fewer than 20 employees to apply for P.P.P relief.
Idaho Central Credit Union Told us these changes help the smallest businesses who had to previously compete with bigger companies for loans
The changes also include the removal of restrictions to the program involving student loan debt and non-fraud felony convictions.
“There are some struggles out there,” said Jarom Campbell with ICCU. “We are fortunate most Idahoans are fortunate to still be able to put food on the table, but there are some small businesses that are struggling so it warms your heart and it makes you feel appreciated to know that all the work that we are doing is helping Idahoans get through this crisis.”
ICCU says most bushiness who had an at least 25% decrease in revenue typically get approved for the program.
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