What to know about the new $2.2 billion U.S. government loan program
Businesses that receive government business licenses need to be licensed, but the process can be difficult.
Here are some of the steps that must be taken.
READ MOREThe Bureau of Consumer Financial Protection and the Bureau of Internal Revenue are issuing a series of guidance that will help business owners prepare for the process of getting a new business license.
The guidance is expected to be released on Monday, but it is not likely to be finalized until early next week.
In addition to business licenses, the bureau will issue an interim guidance document that clarifies the requirements for a business owner to apply for a government business license in the first place.
Businesses will have two months to submit applications to the bureau and will be required to complete a form that details the type of business that they plan to create and how much the business will cost.
Businesses that do not qualify for the federal loan program will have a one-year grace period before they must apply for an existing license.