President Biden Prioritizes PPP Relief for Beauty Professionals

PPP loan applications from self-employed/sole proprietors and companies with fewer than 20 employees are a priority.

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President Biden has announced that he would direct the Small Business Administration (SBA) to only accept PPP applications from self-employed/sole proprietors and companies with fewer than 20 employees for 14 days effective today, Wednesday, Feb 24, 2021.

This will prioritize the beauty industry financial relief applicants more than any other economic sector.

The second round of $284 billion of PPP payments allows the independent stylist, booth/suite renters and salon owners with less than 20 employees to receive 100 percent forgivable loans.

To take advantage of this government assistance to the beauty, barbering and spa industry, the Professional Beauty Federation of California (PBFC) established relationships with SBA-approved lenders to create an unprecedented online portal in which beauty and barbering professionals can submit their applications. 

Everyone who isn’t a W-2 employee should apply, within the next two weeks, when the beauty industry applications will be among the only ones being processed in priority by the SBA.

“Personal care professionals in the beauty, barbering and spa industry were the sacrificial lambs to the COVID gods,” states PBFC legal counsel and advocate Fred Jones. “We were marginalized because we weren’t understood, respected or feared by our elected officials. The PBFC’s coordinated #OpenSalonsNow grassroots campaign, two successive federal lawsuits, and now this unprecedented focus on PPP funding for our struggling professionals, has raised our public esteem and political impact. We will no longer be unjustifiably sacrificed without a fight.”

Click HERE to apply.

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