Extra PPP Help Is Available for Small Print Shops With Less Than 20 Employees
If your printing company employs fewer than 20 workers, today (2/24/21) marks a two-week window during which lenders will be exclusively servicing micro-businesses seeking loans through the Paycheck Protection Program (PPP). During this period, only applications from businesses meeting this criteria will be accepted. According to the Small Business Administration, companies employing fewer than 20 workers account for 98% of all small businesses yet only 45% of this population has received PPP loans to date. The Biden Administration announced this change for pandemic aid on February 22nd, along with other PPP eligibility and program changes aimed at increasing use of the loan program amongst previously underserved or ineligible applicants.
More information about this can be found at sgia.org or reach out to Lyons should you have additional questions specific to how these issues may affect your business: llyons@printing.org.
To become a member of PRINTING United Alliance and learn more about how PRINTING United Alliance subject matter experts can assist your company with services and resources such as those mentioned in this article, please contact the Alliance membership team: 888-385-3588 / membership@printing.org.
Lisbeth Lyons Black is the director of Women in Print Alliance. For more information on the Women in Print Alliance, visit womeninprintalliance.org.
