Minority company confused over PPP loans and repayment

Minority company confused over PPP loans and repayment

Many minority owned business owners do not apply for a P3 loan due to lack of assistance.



XAVIER HARRIS OF WVTM 13 TALKED TO EXPERTS SAYING NEW RULES WILL HELP THE PROCESS >> SINCE FIRST DEPLOYMENT WE CHANGED ADMINISTRATION IN WASHINGTON, THERE ARE NEW PLAYERS AT ALL LEVELS. XAVIER: WHILE THE PAYCHECK PROTECTION PROGRAM WAS A LIGHT OF HOPE TO SUPPORT SMALL BUSINESSES DURING THE COVID-19 PANDEMIC, TOM TODT, DISTRICT DIRECTOR OF THE ALABAMA DISTRICT OFFICE FOR SMALL BUSINESS AMERICAN , INDICATES THAT MANY MINORITY ENTERPRISES LACK OF INFORMATION AND HELP. ALL BUSINESSES ARE LIKE HAS NOT UNDERSTOOD HOW ONLY CAN BE FORGIVEN. A BUSINESS MUST SELECT A TIME TO REPLACE PAYROLL. THEY HAVE TWO QUALIFICATIONS FOR FORGIVENESS. THEY MUST MAINTAIN EMPLOYMENT LEVELS. XAVIER: THE BIDEN ADMINISTRATION ANNOUNCED CHANGES TO THE PROGRAM FOR A DURATION OF TWO WEEKS. IT WILL ONLY DEAL WITH SMALL BUSINESS LOANS. THOSE WITH LESS THAN 20 EMPLOYEES. >> WE HAVE TRIED TO MAKE IT AS EASY AS POSSIBLE. XAVIER: THIS CYCLE WILL ALLOW FREELANCE WORKERS TO EARN MORE MONEY

Minority company confused over PPP loans and repayment

Many minority owned business owners do not apply for a P3 loan due to lack of assistance.

Many minority owned business owners do not apply for a P3 loan due to lack of assistance. Learn more in the video above.

Many minority owned business owners do not apply for a P3 loan due to lack of assistance. Learn more in the video above.

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