The Entrepreneur Fund is a local PPP lender and able to help small business owners navigate the program with their PPP Resource Hub and consulting services. They are currently seeking more small businesses to assist with navigating and benefiting for the program.
The Paycheck Protection Program (PPP) loan is a coronavirus relief resource for small business owners that provides 100% federally guaranteed loans to small businesses. Businesses can receive funds that will pay up to 24 weeks’ worth of payroll costs, including benefits. Funds can also be used to pay interest on mortgages, rent, utilities, operations and supplier costs, property damage, and worker protection expenditures. If conditions are met, the loan can be forgiven or turned into a non-taxable grant for a business. Many small businesses, according to the EF, have yet to take advantage of this program.
"Taking advantage of a forgivable loan through the Paycheck Protection Program is a lifeline and provides much needed relief for many small businesses during this pandemic,” said Shawn Wellnitz, CEO of the Entrepreneur Fund. “We are committed to making sure our region's small businesses know what it is, how they can access it and ensuring the loan is given to all types of businesses that need it."
As a local PPP lender with a dedicated team of business advisors, the Entrepreneur Fund helps small businesses across the region understand the program, determine their eligibility and calculate how much they could receive. The Entrepreneur Fund can also help business owners prepare their application for a PPP loan through the Entrepreneur Fund or another lender.
The Entrepreneur Fund is working to get PPP funds into our community with businesses that need it most. They are currently prioritizing their PPP lending to:
- Diverse-owned businesses;
- Food service and; accommodations industries; and
- Sole proprietors.
Visit the PPP Resource Hub for more information.