(January 11, 2020 Holly Quinn Technical.ly) - Applications are open again for the Paycheck Protection Program (PPP), giving small businesses another opportunity to receive financial relief, whether they received and spent their first round fund or were unable to get funding last time.
Yes, sole proprietorships, independent contractors, partnerships and LLCs without employees are eligible for PPP funds. If you need assistance applying, contact the Delaware Small Business Association or find local assistance using the SBA assistance map.
This time around, in order to give less of an advantage to big businesses, community banks get first draw. Fortunately, Delaware has plenty of them to choose from.
Here are some of the smaller financial institutions you might consider, which have indicated on their websites that they’re participating in this round of PPP:
- First Citizens Community Bank
- Franklin Mint Credit Union
- Fulton Bank, National Association
- WSFS (A Philanthropy Delaware Member)
To explore other local banking options, including whether they’re small business lenders, check out this BankLocal tool.