Some small businesses can apply for PPP loans now; what you need to know – Nashville-Davidson, Tennessee

Nashville-Davidson, Tennessee 2021-01-13 07:27:13 –

Nashville, Tennessee (WTVF) — Paycheck Protection Program (PPP) funding can help business owners struggling to recover from a pandemic. Some small businesses can start applying for a new PPP loan now.

Many small businesses and many of their owners did not actually raise money from the first round of PPP loans because the large companies took huge chunks. So this time the government is confirming what they can do.

Currently, PPP loans are only available to companies applying to local financial institutions. These are banks and lenders that fund small businesses in poorly serviced communities.

The US Treasury and the Small and Medium Business Administration said they would soon open the program to all small businesses. La Tanya Channel, SBA’s Tennessee District Director, said the round’s loan would bring significant benefits to minority-owned and women-owned businesses.

“Post-statistics show that the majority of jobs and employers in this country are small business owners. And really small business owners. Maybe we’re talking about big companies. No, “said the channel. “The majority of employers are small business owners. Therefore, if a small business owner goes out of business, it will of course increase unemployment and affect everyone’s family, their lives, and their lives. I will. “

There are some changes to the program in this round compared to the first time. For example, the forgiveness process is simpler and restaurants can get more loans.

SBA Tennessee says to call (615) 736-5881 or email tn @ to contact their office to find out if you are eligible to apply now I will.

What is a rebound?

Middle Tennessee is working to recover from the effects of the coronavirus and we would like to help. Whether you’re returning to work, achieving your goals at this uncertain time, or managing pressure, we’re working to find a solution. In addition, I would like to talk about hope, inspiration, and creativity when central Tennessee begins to rebound.

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Some small businesses can apply for PPP loans now; what you need to know Source link Some small businesses can apply for PPP loans now; what you need to know

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