Paycheck Protection Program Introduces Exclusive Period For Smaller Businesses

President Biden announced that through Tuesday March 9, 2021 the Small Business Administration (SBA) will exclusively accept applications for Paycheck Protection Program (PPP) loans from businesses and nonprofits with fewer than 20 employees.

During the 14-day exclusive period, financial institutions are still allowed take and review applications from all size small businesses, but they will not submit new applications to the SBA for businesses with 20 or more employees until Wednesday March 10, 2021.

The way orchestra’s determine employees could mean this dedicated period of time may become a hesitation. But for a host of other performing arts orgs and related small businesses, this is a real benefit.

PPP round two is scheduled to expire Wednesday March 31, 2021 so if you have yet to apply, don’t procrastinate.

About Drew McManus

"I hear that every time you show up to work with an orchestra, people get fired." Those were the first words out of an executive's mouth after her board chair introduced us. That executive is now a dear colleague and friend but the day that consulting contract began with her orchestra, she was convinced I was a hatchet-man brought in by the board to clean house.

I understand where the trepidation comes from as a great deal of my consulting and technology provider work for arts organizations involves due diligence, separating fact from fiction, interpreting spin, as well as performance review and oversight. So yes, sometimes that work results in one or two individuals "aggressively embracing career change" but far more often than not, it reinforces and clarifies exactly what works and why.

In short, it doesn't matter if you know where all the bodies are buried if you can't keep your own clients out of the ground, and I'm fortunate enough to say that for more than 15 years, I've done exactly that for groups of all budget size from Qatar to Kathmandu.

For fun, I write a daily blog about the orchestra business, provide a platform for arts insiders to speak their mind, keep track of what people in this business get paid, help write a satirical cartoon about orchestra life, hack the arts, and love a good coffee drink.

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Paycheck Protection Program Introduces Exclusive Period For Smaller Businesses

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