|Dear entrepreneur, PPP! PPP! PPP! Is that all you hear about these days?Have you found yourself wondering what PPP stands for?Today is the day you will find out exactly what it means and how it can benefit YOU! PPP stands for Paycheck Protection Program. |
A new round of PPP loans are available and will provide eligible businesses and nonprofits with low interest loans that could be partially to fully forgivable. All you need is just one employee to be eligible, and YOU count as a qualifying employee. PPP loans can help pay business payroll, utilities, and other operating expenses during the COVID-19 pandemic. Many small businesses previously applied for PPP and were denied… and we know some entrepreneurs got discouraged. However, if you were denied the first time, you can re-apply. This new round of funding also includes a second draw option for businesses that have already received a PPP loan. This program also includes nonprofit organizations, veteran organizations, tribal concerns, self-employed individuals, sole proprietorships, and independent contractors.This time around it has been designed for you – the small business owner – to walk away feeling successful. The deadline to apply for a PPP has been extended to May 31st.
As always, you are welcome to reach out to Michigan Women Forward with questions and concerns about community resources and funding opportunities.
Neighborhood Resource and Intake Coordinator
Michigan Women Forward
|Michigan Women Forward’s WEI Program is made possible by contributions from generous individuals, corporations, and foundations. To view a list of our funders, click here. Thank you!|