Miss out on PPP? Financial resources are still available for small business owners.

Small Business Struggles Winchester
Posted at 4:15 PM, Jun 09, 2021
and last updated 2021-06-10 12:38:30-04

While the deadline to apply for a PPP loan has passed, there are still financial resources available for small business owners.

The Small Business Association has several COVID-19 relief options on their website, including the Restaurant Revitalization Fund, the Shuttered Venues Grant and Economic Relief Disaster Loans (EIDL).

Brandon Meredith, the small business leader for Wells Fargo, said one of the most important things for small business owners to do is research.

"If for any reason they didn't get PPP and they're struggling, they need assistance, check with their bank and ask what programs are available," he said.

Wells Fargo has resources for small businesses available on their website.

"It's a free resource and it's specifically dedicated just for businesses to recover out of the pandemic. You don't have to be a customer of ours, it's free to anyone in the public, but we actually have a lot of information there on what's going on based on your industry, how do you market out of the pandemic, how do you adapt your business," Meredith said.

The Small Business Administration also has funding resources here. If you did receive a PPP loan, you're eligible to apply for loan forgiveness.

"Once your deferment period ends you need to apply for forgiveness if you want to receive that. So, we are in the thick of that right now, most of the forgiveness being done is for loans that were funded in 2020, for the first wave and we're processing those applications for thousands of customers across the country," Meredith said.