b'COVID NEWS:PAYCHECK PROTECTIONCOVID NEWSPROGRAM Will Take Applications through MAY 31T heperiodtoapplyforthepopularAccording to the Senate Committee onOnMarch3,theSBAaltereditsrulesto second draw of the Paycheck ProtectionSmallBusinessandEntrepreneurship,permit a sole proprietor to qualify for a larger Program (PPP) has been extended.AIn 2020, more than fi million smallPPP award for an application submitted afterve qualifying business or sole proprietor now hasemployersreceivedforgivablePPPthatdate.Aself-employedindividualwholes until May 31 to submit an application to theloans.This past December, Congressfi Form 1040, Schedule C (Profi t or Loss U.S. Small Business Administration through aenacted another economic stimulus billfromBusiness)cancalculatethemaximum participating fi nancial institution, and SBA hasreviving the program for a second roundloan amount using gross income instead net until June 30 to approve pending applications. ofapplicationswithadjustedeligibilityprofi t.However, it does not appear that a sole criteria.AccordingtothelatestdataproprietorwhopreviouslyobtainedaPPP CongressandPresidentBidenactedinlatefrom SBA, 3.1 million PPP loans haveaward under the more restrictive formula can March to extend the life of the program.It hadbeenapproved in2021totalingnearlyapply for an adjustment to receive the more been scheduled to expire on March 31. $196 billion. generous loan.If a PPP recipient uses the funds for certain specifi ed purposes, the loan (or a portion ofMORE INFORMATION is available on the SBAs PPP website: it) is forgivable.In eff ect, the loan becomes ahttps://www.sba.gov/funding-programs/loans/covid-19-relief-grant. options/paycheck-protection-program. DeJong & Lebet, Inc.ExperienceNaval ArchitectsMarine EngineersWhen YouConsultantsSurveyorsNeed It. 71 Sea Island ExplorerEachyear,thousandsofpreventablemaritime accidents are caused by operator inattention, cited twice as frequently as the next leading factor. The Furuno BR500 Bridge Navigational Watch Alarm140 Odyssey Chicago RiverSystem (BNWAS) helps to prevent these accidents.Scan this code with your smart phone for a Guided Tour of the BR500. www.dejongandlebet.com1734 Emerson Street, Jacksonville, FL 32207www.FurunoUSA.com (904) 399-3673 info@dejongandlebet.comAPRIL 2021 43 COVID NEWS'