Small Businesses in Massachusetts Access Relief Funding
5.01.2021
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LISC StoriesEconomic Opportunity
Since April 2020, small businesses across the Commonwealth have received support as they sought access to the U.S. Small Business Administration's (SBA) Paycheck Protection Program (PPP). The help came from a broad coalition powered by LISC, made up of non-profit business support organizations, for-profit advisors offering pro-bono support, and individuals. Here are two entrepreneurs who experienced the process and support from the coalition first-hand:
4U Bridal & Prom
Worcester, MA
In June 2020, Lorna Ellis of 4U Bridal & Prom in Worcester applied for a PPP loan with help from the coalition in Massachusetts supporting small businesses with access to the PPP and banking partner BayCoast Bank. Later she applied for forgiveness which was approved in February 2021. "It was easy." "It took about 2 weeks for it to be approved. Now I don't owe anything."
Jenka Rojas Real Estate, Lawrence, MA
Jenka Rojas, who launched her real estate business in 2017, applied for and secured two PPP loans to keep her business afloat with support from coalition partners Mill Cities Community Investments (MCCI) & Reading Cooperative Bank. Her first PPP loan was 100% forgiven and she is confident the second will be as well.
“Aaron [of MCCI] guided me through the whole process and for the forgiveness application. I attended one of MCCI’s webinars, and they were able to answer my questions and explain the steps I had to take to request it. Soon after I applied for forgiveness, it was approved.”
Are you a small business owner looking for ways to stabilize or grow your business? Learn more about LISC's small business programs today [+].
Reach out to coalition advisors for support today where they are providing expedited, pro-bono support for women and entrepreneurs of color. Speak to an advisor [+].