To all of our clients and small business owners out there, PLEASE BE READY FOR THIS ROUND!
Given the fact that this is an election year, there is a likely chance that this is the last bi-partisan stimulus package for small businesses.
If you currently bank at a large banking institution, you should try to go through a small local bank.
According to an Entrepreneur Magazine article showed that only 18% of businesses with less than 20 employees received funding through large banks for the original PPP. This article also indicated that there small local banks and credit unions were more likely to get an application in, approved, and funded for a small business.
What does this mean?
It means, you better act fast… meaning right now! If you have not applied or are thinking about applying, you need to do it now. Do not wait as this funding is expected to go even faster than the first round.