and last updated 2021-02-25 17:28:57-05
CINCINNATI â Certain minority-owned small businesses can apply for a new grant to cushion the financial blow caused by the COVID-19 pandemic.
The Resiliency Fund offers grants that businesses will not have to repay ranging from $1,000 to $15,000 for small minority-owned businesses devastated by the pandemic.
âWe want to reach small Black and brown minority-owned business in Cincinnati that are mom-and-pop establishments, with our hyper focus on businesses with revenue of $100,000 or less,â said Eddie Koen, executive director of Urban League of Greater Southwest Ohio. âGCMI is a great partner for us in that.â
The fund was created by the Business Development & Entrepreneurship division of Urban League of Greater Southwest Ohio, in cooperation with the City of Cincinnati and the Greater Cincinnati Microenterprise Initiative. The city of Cincinnati is providing funding for the effort.
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A Valley collective, federal rule adjustments and a dead applicant: How PPP looks in Arizona
Simon Lehmann/Getty Images/iStockphoto
Biology and science. Covid-19. PPP Paycheck Protection Program. Document for inscription.
By: Andy Blye, Phoenix Business Journal
Posted at 9:21 AM, Feb 24, 2021
and last updated 2021-02-24 11:21:41-05
The Paycheck Protection Program is still not running smoothly and Jonathan Brooks, president and COO at Business Warrior Corporation, is tired of it.
âI m telling you right now that literally it is lifeblood for some people,â he said. âGod dammit, this is our life. And I personally have spent 60-plus hours trying to get my PPP loan for Business Warrior, and I m still stuck, it hasn t moved forward.â
The Biden administration's new changes to the program, that will focus on minority owners and only be available for businesses with 20 or fewer employees.
Today, the White House announced several reforms to the PPP Program, PPP Loans and PPP Eligibility aimed at targeting funds to the smallest businesses and those that have been left behind in previous relief efforts.