According to a recent release, VyStar Credit Union is drawing attention about additional funding for the SBA’s PPP (Small Business Administration’s Paycheck Protection Program), which has been signed into law and is now available to small businesses.
Similar to the first round of funding, this money is expected to go quickly, meaning it is important that you act now to get the funds your business needs.
Moreover, VyStar Credit Union states that it will continue to accept PPP applications from all current VyStar members, who own or co-own a small business.
If you have not yet applied, “we encourage you to do so now to help ensure your application can be processed before the second round of PPP funding is exhausted,” the credit union stated.
The SBA’s PPP website has been experiencing intermittent connectivity problems and ongoing system delays. These issues are affecting financial institutions across the country.
“We understand this process has been frustrating for some small business owners. Please know that we share in your concern and remain committed to getting your PPP applications submitted and processed. We recognize how important these funds are to small business owners in our community, and we will continue to work diligently to deliver them,” VyStar’s release also stated.
As the federal government and SBA continue to update the program, please refer to SBA.gov for up-to-date rules and requirements.
More local assistance
Meanwhile, Leslie Giscombe, founder and CEO of the African American Entrepreneurs Association (AAEA) has stated that, “The CARES Act SBA PPP and EIDL Programs have provisions that specifically earmark funds for minority small businesses. The acronyms represent The Coronavirus Aid, Relief, and Economic Security Act, Small Business Administration’s Paycheck Protection Program, and Economic Injury Disaster Loan Program.
“The AAEA and its partners – VyStar Credit Union, along with SBA – have been assisting their members in getting approved for these loan programs,” Giscombe added.
“Within two weeks of the second round of funding, the AAEA has helped small businesses get approved for over $100,000 in PPP loans,” the CEO added.
For further details, call the AAEA at 386-234-2014, or visit their website: www.aaeassociation.org.
As always, remember our prayers for the sick, afflicted, the prodigal son, or daughter, and the bereaved.
Belated birthday wishes to Gloria Singleton, Cleveland Gaddis, May 8; Lucille Huesner, May 9; and Alicia Pincham, May 12.
Belated anniversary wishes to Lloyd and Deborah Freckleton, May 9.
Birthday wishes to Gillard S. (Tres’) Glover, III, May 18; and Joy Eurie, May 19.
Anniversary wishes to David and Joy Eurie, May 16; Arthur and Loretta Pete, May 19; Sidney and Violet Honeyghan, May 20.