Sorry – the Paycheck Protection Program ended August 8, 2020

Over the last couple of months, the pandemic has affected several aspects of our lives, including how and if our local businesses continue to operate. For many Black businesses, these have been especially challenging times, as owners and employees have made the decision to stay home and stay safe.

The Small Business Administration developed the Paycheck Protection Program (PPP) as a way to help businesses keep their workforce employed during this crisis. The NAACP is proud to partner with Diversity Capital to help strengthen small businesses and to ensure economic empowerment for Black businesses.

Great terms, easy to apply and customized care

• 1% fixed rate APR for the life of the loan
• No collateral or personal guarantees needed
• Forgivable when used on qualified expenses like payroll, rent, and more
• Streamlined process

The program provides cash-flow assistance through 100 percent federally guaranteed loans to employers who maintain their payroll during this emergency. If employers maintain their payroll, the loans would be forgiven, which would help workers remain employed, as well as help affected small businesses and our economy snap-back quicker after the crisis.