The early days of applying for the the Paycheck Protection Program (PPP) has been tough, as millions of small businesses are trying to take advantage of the opportunity to get the funding they need to right out the economic shutdown due to the coronavirus pandemic. But the good news is some of those first to submit their applications are beginning to get their approval notifications back. In fact during this week’s convo with Corpnet CEO and frequent Small Business Trends contributor Nellie Akalp, as she was sharing the details of both the PPP and Economic Injury Disaster Relief Program(ECIDRP) opportunities, a small business friend of mine sent me a message saying he had just been approved. And as he was sharing the process he went through, Nellie got her approval notification.
So those early to apply for the program are beginning to hear back. But if you haven’t submitted your application you’ll probably want to get it in as soon as you can. And Nellie did a great job laying out the program, who’s eligible for it, and what you need to have ready before you apply. So if you want to learn more about these programs, below is an edited transcript of a portion of our conversation. But to see the whole conversation and hear all of Nellie’s tips and advice surrounding these programs watch the video or click on the embedded SoundCloud player below.