If you are a contractor with fewer than 20 employees, there is a unique opportunity currently available to you that provides special access to forgivable payroll assistance.

The Paycheck Protection Program (PPP) was founded in 2020 to help employers maintain their current workforces during the COVID-19 pandemic without layoffs or furloughs. One of the biggest critiques of this plan was the difficulty of small business owners to receive aid, who found themselves in line behind much larger businesses.

With the new round of PPP, currently open, the Small Business Administration has established a 14-day, exclusive PPP loan application period. During this time, only businesses with fewer than 20 employees can apply for assistance. However, this period will close after March 9.

Qualifying business owners can apply for the new round of PPP by downloading a first draw or second draw application form, and using the SBA Lender Match tool to find a participating PPP lender.

To learn more about how Odyssey can help your business add efficiency to its DoD processes, contact us.