MEDIA AVAILABILITY: Small Business Owners and Experts Available to Discuss Relaunch of Paycheck Protection Program this Week
WHAT: This week, the U.S. Small Business Administration is relaunching the Paycheck Protection Program (PPP) through community development financial institutions (CDFIs) in order to ensure business owners of color and women entrepreneurs have improved access to federal funding. The relaunch seeks to address challenges that arose during the first round of PPP in 2020, as our smallest and most vulnerable businesses were shut out from the process due to a lack of prior business banking relationships. While prioritizing access for these business owners via community lenders is an encouraging step, there are concerns that CDFIs have not been given adequate time to prepare for the relaunch this week. In light of this issue and other challenges that occurred during the first round of funding, Small Business Majority is closely monitoring the launch this week and is in contact with small businesses owners as they apply for PPP loans.
WHO: John Arensmeyer, Founder & CEO
Xiomara Peña, Vice President, Engagement
Small business owners nationwide who are applying for a PPP loan
WHEN/WHERE: Small business owners and policy experts are available to speak to media today, January 11, 2021, and the rest of this week by phone and video conference.
TO REQUEST AN INTERVIEW: Contact Tiffany E. Browne, Media Relations Manager: (202) 535-3229 or [email protected]
Small Business Majority can accommodate interviews in English and Spanish.
About Small Business Majority
Small Business Majority is a national small business organization that empowers America's diverse entrepreneurs to build a thriving and inclusive economy. We engage our network of more than 80,000 small businesses and 1,000 business and community organizations to advocate for public policy solutions and deliver resources to entrepreneurs that promote equitable small business growth. Our deep connections with the small business community along with our scientific research enable us to educate the public about key issues impacting America’s entrepreneurs, with a special focus on advancing the smallest businesses and those facing systemic inequalities. Learn more about us on our website and follow us on Twitter, Facebook and Instagram.