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Get Ready Now

ATTENTION:  PHILADELPHIA BLACK & BROWN COMPANIES

GET READY NOW CAMPAIGN FOR SBA PPP

THE NEXT ROUND OF US SMALL BUSINESS ADMINISTRATION PAYROLL PROTECTION PROGRAM IS OPEN FOR FIRST TIME BORROWERS! APPLY HERE!

DON'T MISS OUR PPP WALKTHROUGHS ON FRIDAY, JANUARY 15TH! REGISTER HERE!

BE SURE TO READ OUR PPP FAQS HERE.

START PREPARING YOUR BUSINESS DOCUMENTATION TODAY

Click here for the official Get Ready Now press release. 


Get Ready Now partners Regina Hairston, president and CEO of the African American Chamber of Commerce of Pennsylvania, New Jersey and Delaware and Jennifer Rodriguez, CEO of the Philadelphia Hispanic Chamber of Commerce speak with KYW radio about PPP

The Enterprise Center is partnering with the Greater Philadelphia Hispanic Chamber of Commerce, Asian American Chamber of Commerce of Greater Philadelphia, African American Chamber of Commerce of PA, NJ, & DE, and the Urban League of Philadelphia for the Get Your Documentation Ready NOW campaign is being promoted to encourage Black and Brown Companies to have their PPP applications near-ready when the US Small Business Administration (SBA) opens the next PPP application window. Black and Brown companies need to be prepared to submit PPP applications, because these applications will be reviewed on a “first come first serve” basis.  We want our region’s Black and Brown companies to receive these funds; preparation is the key to success.

Here is what we know to date:

  • Congress passed a Stimulus package that included additional PPP funding.
  • The SBA will open the application window in early 2021.
  • The next round of PPP funding will have two additional requirements for borrowers taking out a second PPP loan, 1) the business must have 300 or fewer employees; and 2) the business must provide evidence that business’ revenue has dropped 25% or more, as a result of COVID-19. 

Here are actions that you can take to ensure that you are ready:

  • Fill out our form to receive the latest updates, make an appointment for virtual application assistance, and download a free template to calculate your quarterly revenue decrease. Here is the link: bit.ly/pppdocprep
  • Consult your Accountant/Bookkeeper and prepare 2020 financial statements as soon as possible. You will need to demonstrate reduced revenue. If you are unable to prepare financial statements for 2020, be sure that your business’ financial statements for2019 and 2018 are complete and in good order.
  • Review the document checklists that were preleased prior to previous rounds. Most likely, similar documents will be required for the next round.
  • Assemble your 2020 payroll documentation, including payroll journals.
  • Get your paperwork organized! 

 

The SBA’s PPP is a forgivable loan, and we are strongly encouraging you to sign up to apply to stay in business as the economy returns.  You must start now on your application and we stand ready to assist.




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