We have always been proactive about providing vital financial services and support to America’s small businesses and underserved communities. Have a trusted advisor or banker who can help them understand the rules and applyīrooke Mirenda, President and CEO of Sunshine State Economic Development Corporation, said, “SEDCO is very excited about this partnership with Womply. Womply’s data shows that as businesses get smaller they are less likely to: The most recent 2021 updates to the PPP rules were intended to prioritize smaller businesses and under-served communities, yet many truly small businesses, independent contractors, sole proprietors, and self-employed individuals may still be reluctant to apply for PPP funding, and may not even be aware that they can qualify. PPP Fast Lane will make it possible for them to serve an even greater number. SEDCO is well-established as a proven SBA lender, and its Community Advantage loan program, as well as its Women/Minority Business Fund loan program, demonstrate SEDCO’s commitment to serving the under-served community as well as the individual. By removing friction that only applies to larger businesses we hope to make PPP less confusing and help hundreds of thousands of small businesses, contractors, gig workers, and self-employed people.” “PPP Fast Lane was designed from the start specifically for the smallest businesses and individuals that haven’t received government stimulus from PPP or EIDL loans. “We’re very excited to be able to connect borrowers with SEDCO to get their PPP loans,” said Womply founder and CEO, Toby Scammell. The program played a critical role in stabilizing these small businesses and protecting jobs for hundreds of thousands of workers during the darkest days of the COVID-19 pandemic, and in 2021, Womply has already helped over 300,000 more businesses, gig workers, contractors, and self-employed borrowers get funded. In 2020, Womply helped more than 100,000 businesses access the Paycheck Protection Program through its network of SBA-approved lenders. The partnership combines their expertise as an SBA-approved lender with Womply’s breakthrough PPP Fast Lane process to allow even the smallest businesses, independent contractors, sole proprietors, and self-employed individuals to access vital Paycheck Protection Program (PPP) funding with as little friction as possible. Womply, the local commerce platform that provides apps, APIs, marketing, and financial tools to make local commerce happen, today announced a new partnership with Sunshine State Economic Development Corporation (SEDCO).
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