March 3 – The Prairie View A&M University Cooperative Extension Program (CEP) is partnering with the Small Business Development Center (SBDA) to assist small businesses with securing funding through the Paycheck Protection Program (PPP).
The two agencies will partner to host “Pop Up and Do Your PPP,” a pop-up event at Victorious Believers Church (21131 Pine Island Road, Prairie View, Texas) on Friday, March 5, and Saturday, March 6. Small business owners – including the self-employed, sole proprietors, gig workers, and independent contractors – can attend the event and receive assistance in filling out the PPP application.
“Initially, most of the smallest businesses were excluded, reluctant to apply or denied PPP loan-based on previous requirements and the funding formula,” CEP Community and Economic Development Program Specialist Natriez “Nate” Peterson said. “Capital is the lifeline of any company’s operations, and securing capital is even more challenging for the populations we serve.”
According to the United States Small Business Administration, the PPP offers loans to businesses to assist them in ensuring their employees remain employed during the COVID-19 pandemic. Recently, the Biden Administration announced additional changes to the program to make the program more equitable.
Changes to the PPP include:
- A 14-day application period exclusive to those with fewer than 20 employees beginning Feb. 24, 2021, and ending on March 9, 2021.
- Self-employed individuals can use gross income to calculate their PPP loan.
- Owners with felony convictions can apply.
- Business owners whose student loans are delinquent or in default can apply.
- Lawful residents are eligible.
- The current PPP application period closes for all applicants on March 31, 2021.
“Our strategy is simply to help the smallest businesses understand the PPP changes and galvanize within the Biden Administration 14-day window to help as many of them as possible,” Peterson said.
For SBDC Program Assistant Jasmin Espy, an additional benefit of the event is creating awareness regarding all the resources available to small business owners.
“Another aim of the program is to increase small businesses resources awareness at PVAMU through education and resources provided by the Small Business Development Center and the Cooperative Extension Program,” Espy said.
For more information on the “Pop Up and Do Your PPP,” contact the PVAMU CEP Community and Economic Development unit at (936) 261-5037 or PVAMU Small Business Development Center at (936) 261-9242.