SBA’s Payroll Protection Program (PPP) Saves Thousands of Jobs Across the Southeast

July 2020

u s small business administration

SBA’s Payroll Protection Program (PPP) Saves Thousands of Jobs

Ashley Bell

Ashley D. Bell 

Region IV Administrator, U.S. Small Business Administration & Entrepreneurship Policy Advisor for the White House Opportunity & Revitalization Council

With the help of super-connecting governors, mayors, community leaders, music influencers, media, citizens, activists, clergy, and bankers, our southeastern region's small businesses have accessed over 279,760 in Payroll Protection Program (PPP) loans.  These loans created an initial multiplying impact on our economy at a value over $87,111, 898,606. 

Nationally, over 50 million employees are now on the payroll because of the PPP.  Their employers were able to sustain, retool, diversify, or sometimes even expand their operations that are rebounding us into a post-Covid-19 economy. With 700,000 jobs for African American workers added in the last two months; Hispanic employment up by 1.5 million jobs, and 3 million for women, the PPP as part of the CARES ACT (Coronavirus Aid, Relief, and Economic Security) can be credited for a recovery beckoning to leave no one behind.

Thanks to our nation's lenders (5,455), we have facilitated over 4. 9 million in loans for an average size of $104,682, for a value of  record value of $518 million. 

On July 4th, President Donald J. Trump, with collaborating bipartisan support from Congress, Treasury Secretary Steven Mnuchin, and SBA Administrator Jovita Carranza signed in law an extension of the PPP deadline to August 8th.  This lifeline gives those businesses who need more time to access the remaining $132,189,028,196.   

Visit SBA for more details of the PPP and a complete listing of other Covid-19 resources for small businesses including a list of PPP participating lenders. 


Jovita Carranza

SBA Administrator Appoints New Members to National Small Business Development Center Advisory Board

SBA Administrator Jovita Carranza announced on July 1, 2020 (SBDC Appointments) the appointment of six new members to the National Small Business Development Centers (SBDC) Advisory Board. Three from the Southeastern region: 

  • Louis Foreman – Chief Executive of Enventys and Founder of Edison Nation in North Carolina, re-appointed to the SBDC Advisory Board. 
  • Bertica Cabrera Morris – Born in Havana, Cuba, and owner of Bertica Cabrera Consulting in Florida since 1993. 
  • Honorable Bruce Thompson – State Senator for Georgia , U.S. Army National Guard, CEO of Quoteburst Software Solutions, Strong Tower Funeral & Crematory, BTE Holdings, and 2 Hawks Development. 

    Please find a listing of all of the appointees from the news release issued here.

SBDC

 

Left to Right above (Louis Foreman, Bertica Cabrera Morris, Sen. Bruce Thompson

PPP

Reminder! The deadline to apply for PPP is  August 8th!

 

                                                         


Lender Match

Looking for a PPP Lender?

   Visit SBA's Lender Match

 


Local News From Your SBA District 


Thomas Todt

Alabama District Office

Thomas (Tom) Todt, District Director

The Catalyst Center for Business & Entrepreneurship

Recovery through tough times can be challenging, but the staff of the Alabama District Office and our dedicated Resource Partners are hard at work to make sure you get the assistance you need.

We invite you to register for one of many upcoming online learning sessions hosted by our Women’s Business Center.

 

Upcoming Online Sessions

Business Financial Statements

Thursday, July 30th, 11:00am-12:pm

Engage in Entrepreneurship

   Friday, July 31st, 11:00am -1:00pm 


HendersonL

North Florida District Office

Laketa Henderson, Deputy District Director(A)

Welcome to Laketa Henderson Acting North Florida District Director!

Laketa Henderson, Deputy District Director has been with the SBA eight years. During her tenure she has worked in the Washington Metropolitan District Office (WMADO), and the Alabama District Office as a Business Opportunity Specialist (BOS) and Supervisory BOS. Prior to joining the Michigan District Office, she was the Deputy District Director at the San Antonio District Office. At the Michigan District Office, she is responsible for managing a team that counsels and provides numerous resources to small businesses to help facilitate their development and growth in the 8(a) Business Development Program. Prior to joining the SBA, Ms. Henderson a Native Detroiter worked over twenty years in the Automotive Industry with General Motors, Toyota and Hyundai. Ms. Henderson has a bachelor’s degree in Public Affairs and a master’s in business administration; she is also an Army Veteran who served for seven years abroad and stateside.


Gil

 

The North Florida District Office recently hosted a virtual retirement celebration for Gilbert Colón.

Mr. Colón served as a former Deputy District Director for both the North Florida & South Florida district offices during his tenure with the SBA.  He is looking forward to spending time with family & traveling when he can.  The SBA team wishes Gil best wishes for his retirement and thanks him for his service!


Victoria Guerrero

South Florida District Office

Victoria Guerrero, District Director

In July, the SBA South Florida District held two virtual panel chats with several Florida based-PPP lenders to discuss the process. According to data released by the SBA and Department of Treasury, more than 393,000 small businesses and organizations in Florida received $32 billion in PPP loans, saving an estimated 3.2 million jobs.

sf1

Top: Debra Salas, SFDO Lead LRS; Brian Keenan, Florida First Integrity Bank; Danny McDonald, Pilot Bank; Javier Jorges, Pilot Bank; Tom Zerneck, First Home Bank, and Victoria Guerrero, SFDO DD.


sf2

 

Top: Debra Salas, SFDO Lead LRS; Victoria Guerrero, SFDO DD; Carolina Menendez, IBERIABANK, South Beach; and Bill Talley, Marine Bank & Trust Company, Vero Beach. 


Dennison

Georgia District Office

Terri L. Denison, District Director

Folayemi Agbede joins the SBA Georgia District Office

After three years with the SBA Office of Disaster Assistance, the Pittsburgh native curated her passion to support small businesses (especially those owned by minorities) after previously working for one of the largest black-owned civil engineering firms in the U.S. At SBA ODA, Folayemi specialized in organizational development and                                           training, including developing the agency's ethics training.  

Folayemi

Folayemi brings an enthusiasm for project management to the Georgia District. As a business development specialist, she's excited to interact with small business owners to educate them on the vast suite of SBA resources, especially during this challenging time. Folayemi is also a boxing enthusiast and can't wait to get back in the gym after the pandemic.


Coffey

Kentucky District Office

Robert Coffey, District Director

PPP and EIDL Help Small Business Battle COVID-19

A serial entrepreneur who has successfully used SBA resources for years, Rhonda Hatfield opened Blue Halo Med Spa in 2014. The day spa offers a customizable  program of wellness services for its patrons. In March 2020, Blue Halo Med Spa was forced to close because of the COVID-19 pandemic.

RhondaHatfield

Shortly after closure, Rhonda applied for and received the SBA Economic Injury Disaster Loan (EIDL) and EIDL Advance grant. Her company also obtained a Paycheck Protection Program (PPP) forgivable loan to battle the impact from COVID-19.

The PPP loan was obtained through a community bank that is an experienced SBA lender. Rhonda commented on that experience.  “Our Loan Officer was amazing. He and his team worked around the clock to help us and so many other small businesses.”

She continued, “I mean this from the bottom of my heart. The SBA and its Small Business Development Center (SBDC) resources made all the difference in our success. I will be forever grateful!”

With the PPP, Blue Halo has brought all employees back on the job. Also, Rhonda plans to hire two more team members soon.


Stewart

Janita Stewart, District Director

Mississippi State Trade Expansion Program (STEP) 

Through the (SBA)-funded Mississippi State Trade Expansion Program (STEP), Mississippi Development Authority (MDA) can offer small businesses financial assistance to help defray many of the costs associated with exporting for the first time or with exporting to new international markets. 

 

Mississippi STEP Facts


SBA Disaster Loans Available to Mississippi Private Nonprofit Organizations Affected by Severe Storms, Tornadoes, Straight-Line Winds and Flooding.

                  For more information on this Disaster Declaration #15416

                           Visit  https://disasterloanassistance.sba.gov/


Stith

North Carolina District Office

Thomas A. Stith, III, District Director

Director Stith to Provide Remarks at NMSDC Virtual Seminar

As part of the NCDO’s ongoing focus to enhance outreach to diverse entrepreneurs, NC District Director Thomas A. Stith III will partake in the National Minority Supplier Diversity Council’s 2020 Program Managers’ Seminar  virtually on July 28, 2020.  Stith will address the topic “What’s Next After the Paycheck Protection Program?”  by reviewing the current status of the PPP, as well as highlighting the SBA programs and resources aimed at assisting small businesses.


White

 South Carolina District Office

Richard "Gregg" White, District Director

The South Carolina District Office is excited to announce two new SBA Resource Partners!

Community Works in Greenville and Benedict College in Columbia have both received grant funding from the U.S. Small Business Administration to open Women’s Business Centers, which will provide vital counseling to women entrepreneurs who need assistance in starting, growing, expanding, and recovering their small business. Women’s Business Centers offer free counseling assistance, along with other free or low-cost workshops and events that are specifically tailored to women-owned businesses. These centers seek to level the playing field for all women entrepreneurs, who still face unique obstacles in the business world. Businesses receiving assistance from WBCs see a significantly better success rate than those without similar support. We are thrilled to welcome Benedict College and Community Works into our resource partner network, and we look forward to participating in the future events they will offer. More updates on the centers will come soon!


Channell

Tennessee District Office

LaTanya Channel, District Director

SBA Road to Recovery: Connecting Tennessee Small Business to Resources

Starting in July 2020, and continuing for a year until July 2021, the SBA Tennessee District Office is launching the “SBA Road to Recovery: Connecting Tennessee Small Business to Resources”-  a series of virtual events for small business, statewide, looking to recover or pivot their small business endeavors, since the impact of COVID19.  Whether it is a business just starting up; a business needing help with closing shop – properly; or a business looking to pivot, these “SBA Road to Recovery – Tennessee” webinars, virtual events, and virtual conferences will occur every week, on Tuesday and Thursday, to help small businesses in Tennessee, statewide.

The first webinar is on Tuesday July 28 2020 -register here: Learn About Surety Bonding, statewide, and Knox County Govt Contracts:   Please know that firms can still contact the Tennessee District Office , daily, for help with PPP and EIDL and for more info on  the “SBA Road to Recovery – Tennessee” series to help beyond 2020.