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Payroll Protection Program (PPP):

Getting a Fair Share Resources

The PPP application window is closing and the final deadline is May 31.  Commercial banks are no longer accepting applications. As of May 19, there is about $6 billion left in community financial institutions across the country. That money is expected to go quickly, and we hope you have already applied, if you were thinking about a PPP. If you haven't, here is a handy database. 

 

https://cdfi.org/2021/05/07/welcome-small-businesses-looking-for-ppp/

Payroll Protection Program (PPP): Getting a Fair Share Resources

WHAT?

Tools and information to help more small businesses, especially Black, Brown, and women entrepreneurs, participate in the Payroll Protection Program, the federal government’s Small Business Administration forgivable loan relief program.

WHY?

Together, we can assist Hamilton County neighborhoods by helping Black, Brown, and women business owners get their fair share of PPP loans. Nationally and locally, in the first round of PPP last year, minority- and women-owned businesses were disproportionately left out of the race for federal aid to recover from the impacts of the pandemic, even as technical assistance providers and lenders were overwhelmed by those seeking help. As a result, many of our neighborhood business districts and commercial corridors are suffering.  Fortunately, Cincinnati Minority Business Collaborative (CMBC) members, lenders, and other small business and community development organizations are ready to help.

 

SOURCES

Special thanks to the following for their contributions to PPP: Getting a Fair Share: Eddie Koen, President & CEO, ULGSO,  Kala Gibson, EVP and Head of Business Banking, Fifth Third Bank; Michael Shepherd, Senior Vice President, National SBA Director, Fifth Third Bank; Jilson Daniels, Vice President, Economic Equity, The Port; and Dr. Rea Waldon, CMBC Coordinator.

Greater Cincinnati Regeneration Alliance PPP Resource 

The Greater Cincinnati Regeneration Alliance, or the GCRA, is a group of local public, private and civic leaders who want to accelerate our community’s recovery from the impacts of COVID-19. Specifically, the GCRA is focused on accelerating recovery from the pandemic In Hamilton County neighborhoods and neighborhood business districts (NBDs), with a particular focus on Black, Brown and women-owned business by breaking break down silos and building capacity in small business and community development ecosystems

The Founding GCRA organizations are: The Carol Ann and Ralph V. Haile Jr. Foundation, Fifth Third Bank, The Port, the Urban League of Greater Southwest Ohio, and the Cincinnati Development Fund. Small business and community development organizations who share this mission as invited to participate because …

The Cincinnati community is coming together to assist in business recovery from COVID-19.

Contact CincinnatiRegenerationAlliance@gmail.com for more information.