The Small Business Administration’s second round of Paycheck Protection Program (PPP) funding is open through March 31, 2021, and President Biden just announced a series of program enhancements to ensure that underserved small companies hardest hit by the pandemic have the best opportunity to apply for the PPP funds.
The PPP funding formula is being revised so that self-employed individuals, including sole proprietors and independent contractors, will have much more financial support than they would have received under the old program rules.
Tune in to this morning’s Business Beat to learn more about the second round of PPP funding, and how your business can apply:
For more information, visit sba.gov.
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Good morning, Paul.
The federal government’s Paycheck Protection Program, or PPP, has been nothing short of a godsend for small businesses across the country who, without that funding provided in 2020 and now again under a second phase of the program, would likely not have been able to pay their employees, let alone survive at all.
And yet there were issues with the first round of PPP funding in that many companies receive funds that did not meet the program qualifications. Even some bigger companies benefited, who should not have. And that left deserving smaller companies with the most critical need left out. And for many of them, it’s now unfortunately lights out.
Well, President Biden wants to do something about that; he’s just announced a series of program enhancements to ensure that these underserved small companies hardest hit by the pandemic have the best opportunity to apply for the PPP funds.
One of the most important changes? PPP’s funding formula is being revised so that self-employed individuals, including sole proprietors and independent contractors, will have much more financial support than they would have received under the old program rules.
The calculations had been largely centered previously on the number of employees; well, smaller companies don’t have many employees and so they were left out in many cases. In addition, the Biden administration also set aside a billion in PPP loans for businesses without employees and low- and moderate-income areas.
The program is open through March 31, although currently available funding is already half spoken for. So, make sure you seek your share of this critical funding without delay. These loans can even be forgiven if the loan forgiveness criteria is met by the borrower.
The program is managed by the Small Business Administration, so go to sba.gov and click on the Paycheck Protection Program to get on the action today.
I’m Jeff Sloan, founder and CEO of StartupNation.com, and that’s today’s Business Beat on the Great Voice of the Great Lakes, WJR.
The post WJR Business Beat with Jeff Sloan: Second Round of PPP Funding Still Available (Episode 180) appeared first on StartupNation.
I recently applied for a position that I was under qualified for at a startup that I was really interested in. They had another position that I fit the qualifications for/might have been slightly overqualified for and decided that if they didn’t consider me for the higher position, they might for the other position. The operations lead came back very quickly and thanked me for the interest, but that I didn’t quite fit what they were looking for in the higher position and to apply for any future opening that may interest me. I was planning on applying separately for the other position, but 4 days later she reached out to me about the lower position and it I’d be interested in it. I said yes and I set up an initial interview with their CTO.
The initial interview with the CTO went well, albeit very short. I could tell that they were very busy, and even when I asked him what their biggest challenge they’re currently facing or expecting to face is, he answered that the biggest thing they’re focused on now is “getting more hands.” Apart from that it would be developing the future generations of the system. He told me that the next step would be the technical interview, and assured me it wouldn’t be anything too challenging or anything. The operations lead reached out to me within a half hour trying to schedule the technical interview, and she even used the phrase “as soon as possible” in bold letters, so I felt very good. Technical interview was scheduled 2 days thereafter, and I believed it to have gone well. The man wasn’t actually a part of their company, but rather one of their investors that has extensive experience in the industry. There was only one question where I wasn’t very confident, but he even gave me good verbal feedback after the question saying I knew a decent amount for no experience with the particular system, and then went on to explain all of the other possibilities.
Long story short, I felt very confident leaving both interviews, however I haven’t heard from them since. My last interview was the morning on January 28th, and I sent a follow up email to the operations lead the following day, but haven’t heard back. The ad is still up and has even been updated since, so I was just wondering if I should send a separate follow up? Possibly to the CTO? I think I’m more worried because it is such a small team right now and I know they are busy, I don’t want to be a nuisance.
TL;DR Interviewed twice for a company that was very communicative initially and have gone silent since. I felt extremely confident but haven’t heard from them in nearly 2 weeks now. Should I send a separate follow up? Possibly to the actual CTO that I interviewed with and not just the woman who is clearly handling the hiring process. Any advice would be great!