WEupdates – PPP Flexibility Act

June 9, 2020
Categories:
Michelle Richards

Quote of the Week
“COVID-19 will have a cure soon. Racism will not. Both are insidious diseases that are ravaging our communities. Great Lakes Women’s Business Council cannot stand for the values of diversity and inclusion while remaining silent about the atrocious acts of violence against humanity. We stand in solidarity with all who are seeking justice and demand change.

Michelle Richards, Founder and Executive Director, Great Lakes Women’s Business Council



Enactment of the Paycheck Protection Program Flexibility Act
The SBA has accomplished further funding of the Paycheck Protection Plan. What does this mean for your business?


COVID-19 Resources
  • Provides counseling and referral to Michigan and Indiana small businesses on:
    • SBA Payroll Protection Program
    • $10,000 Disaster Advance Grants, and Disaster Loans (helping 100 women, and minority business owners receive at least one of these resources)
  • Provides $150,000 in grants (Twenty $7,500 grants) to member businesses in Wayne, Oakland, and Macomb counties. Funds from Citizens Bank.
  • Provides $ 1 million in $25,000 – $50,000  bridge loans to small businesses through CEED Lending to businesses in nine southeastern Michigan counties
  • Offers weekly free webinars on topics related to business recovery and COVID-19 resources (miwomen.com), and partnered with several groups, including Michigan Retailers Association to provide training on reopening and dealing with physically aggressive customers in the current environment
  • Posts recorded webinars for 24/7 access | miwomen.com
  • Shares COVID-19 Resources and Opportunites at greatlakeswbc.org and miwomen.com including grants, resources available, women business owners that provide COVID-19 supplies, services, training, and counseling
  • Conducts virtual matchmaker opportunities for 40 certified women-owned businesses with Corporate Awards Celebration sponsors
  • Received grant funding through CARES ACT to hire two staff that will focus on business counseling and MentorWE virtual group mentoring teams (Benita Tyler and Lori Wesby both have MBAs and extensive experience in business development and finance and joined our team in the last week).

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