News Flash

City of Falls Church Economic Development Office News

Posted on: February 23, 2021

Paycheck Protection Program Reopens February 24

PPP

President Biden is opening a new round of the Paycheck Protection Program, available from February 24 to March 31 with the first two weeks being open to businesses and non-profits with fewer than 20 employees. These funds can be used for mortgage interest, rent, utilities, worker protection costs related to COVID-19, uninsured property damage costs caused by looting or vandalism during 2020, and certain supplier costs and expenses for operations. Important details for this new round include:

  • The initial 14-day period, from February 24 through March 10, is available only to businesses and non-profits with fewer than 20 employees.
  • The entire program closes on March 31.
  • This round offers greater support for sole proprietors, independent contractors, and self-employed individuals to receive funding.
  • Restrictions have been removed that prevented small business owners with prior non-fraud felony convictions or delinquent federal student loans from obtaining relief.
  • Non-citizen small business owners who are lawful U.S residents can use their Individual Taxpayer Identification Numbers to receive funding.

Please see these links for more information on this new round of PPP loans:

Apply through the Small Business Administration
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