A Lifeline for Small Businesses: The PPP Loan

COLLEEN WYSONG | April 5, 2020

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Small business owners who have 500 or fewer employees, including self-employed individuals, may be able to benefit from the Coronavirus Aid, Relief, and Economic Security (CARES) Act that was passed last week. One of the most compelling parts of the Act is the “Paycheck Protection Program” (PPP), an emergency lending facility, administered by the Small Business Administration (SBA) to provide small business loans on favorable terms to borrowers impacted by the current state of economic uncertainty. With the Payment Protection Program (PPP loan), Small Businesses can request loans up to 2.5 times the average monthly payroll expense over the previous year (with total loan amount capped at $10M). There are other Small Business loans available as well.

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Tips for small businesses and consumers

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Article | February 25, 2020

For small businesses, this is cause for alarm. Lacking the time, IT expertise, and deep pockets of major companies, the small businesses that make up the foundation of the economy are sitting ducks — especially considering that 43% of all cyberattacks target small businesses specifically. In order to help small and midsize businesses get ahead of this issue, Congress passed the Small Business Cybersecurity Act in 2018. In essence, the act required the National Institute of Standards and Technology (NIST) to make small business cybersecurity a bigger priority, offering free and accessible resources appropriate for companies of all sizes. The act resulted in the Small Business Cybersecurity Corner website. Launched in 2019, it provides a centralized source of everything from information about dangerous cyberattacks to employee training tips. By all accounts, the NIST has met its mandate by making cybersecurity less confusing and risky for the businesses that suffer the most. Now it’s up to those small businesses to take that advice and run with it.

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We believe that everyone is creative, and that giving people tools to harness their creative power has the potential to change lives for the better. Not creativity defined as an artist but creativity defined as a mindset, as a mental toolkit, as a set of building blocks, as a way of solving problems, and as a means to live a more interesting life.

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