Small business already know about the shortcomings of the first go around of the Paycheck Protection Program (PPP). Where “small businesses” like Ruth Chris’ Steakhouse was able to get $20 million or so, while other real small businesses looking for $5,000 to just stay afloat were turned away.
But with the new PPP round currently taking place, there’s renewed hope that companies left out of the first go around, especially black and brown businesses, will finally benefit from the program due to changes aimed it benefitting companies at the low end of the small business sector.
Nancy Santiago, Community Impact Lead for Ureeka, a startup founded that provides mentorship and guidance through their platform to help entrepreneurs’ get answers to their most pressing questions, joins me to share what small businesses need to know about applying for this round of PPP. Below is an edited transcript of a portion of our conversation. To hear t