Entrepreneurs Encouraged to Apply for the PPP Program Before the June 30th Deadline- “Recovery Now in Cities Across Georgia"
Monday, June 29th, 2020
In my travels across Georgia and the nation, I have worked tirelessly to promote the SBA’s national mission of helping entrepreneurs and leaders start, grow, and expand their businesses. During these past few months since the outbreak of the Covid-19 Pandemic, I've gained an astounding confirmation at roundtables, virtual townhalls, radio interviews, hundreds of phone calls, and emails, that the key component to the success of the Paycheck Protection Program (PPP) is due to the significant level of local participation, local and federal collaboration, and support at the community level.
Over 800 lenders including banks, credit unions and CDFI’s have approved over 140,000 loans to Georgia small businesses, faith-based institutions, and non-profits in Athens and throughout the state. This $14 billion in approved PPP loans to Georgia entrepreneurs will have a long-lasting impact on our economy.
With over $100 billion to go in this final stretch, we strongly encourage those who have not yet applied to follow the lead of businesses and lenders across the state who have successfully worked together to make PPP a success. For a list of current PPP lenders, CDFI’s and FinTech companies, please visit https://www.sba.gov/paycheckprotection/find.
SBA Georgia State Director Terri Dennison and Allan Adams, State Director, University of Georgia (UGA), Small Business Development Center (SBDC) have offices in your local area with professional counselors standing by to advise, and support businesses who have not yet applied and wish to apply for PPP. You may also expedite your PPP application with a free online tool called LENDER MATCH that connects small businesses with SBA-approved CDFIs and small lenders. https://www.sba.gov/funding-programs/loans/lender-match.
I am honored to be an advocate for every small business, as we continue the recovery process from the global COVID-19 pandemic. SBA and the U.S. Department of Treasury have been responsively making improvements to the PPP program. SBA Administrator Jovita Carranza recently stated about The Paycheck Protection Program Flexibility Act, “This bill will provide businesses with more time and flexibility to keep their employees on the payroll and ensure their continued operations as we safely reopen our country. We look forward to getting the American people back to work as quickly as possible.”
If you are a business owner who needs direction on how to best access the remaining 100+ billion dollars remaining in this last round of fund disbursements, I encourage you to quickly reach out to the nearest SBDC office to you at https://www.georgiasbdc.org/ or contact the SBA Georgia District Office by visiting www.sba.gov/ga.They offer no cost, confidential counseling to assist you before the upcoming deadline of JUNE 30TH.
SMALL BUSINESS PAYCHECK PROTECTION PROGRAM
The Paycheck Protection Program provides small businesses with funds to pay payroll costs including benefits. Funds can also be used to pay interest on mortgages, rent, and utilities.
All Small Businesses Eligible: Small businesses with 500 or fewer employees—including nonprofits, veterans’ organizations, tribal concerns, self-employed individuals, sole proprietorships, and independent contractors—are eligible. Businesses with more than 500 employees are eligible in certain industries.
For more information on PPP, please visit www.sba.gov and follow us on Twitter @SBASoutheast.