Under the new formula, sole proprietors can get loans based instead on their income before expenses. That opens the program to unprofitable businesses and allows those that did report a profit to claim a bigger loan, up to a maximum of $20,833.The letter gave Mr. Hastings two choices: Take the offered loan — for an amount thousands of dollars less than he would get under the new rules — or cancel his application and start over. But if he did that, the letter warned, he risked not getting any loan at all before the deadline.Mr. Hastings ultimately didn’t have to …