Bringing Hope to Small Businesses – One Paycheck Protection Program (PPP) loan at a time
Prior to the pandemic, running a successful small business was no easy feat. According to the U.S. Bureau of Labor Statistics in August of 2020, it was estimated that 20% of small businesses would fail within the first year, at the end of their fifth year close to 50% would fail, and in 10 years only one third of small businesses would still exist translating into an even higher failure rate of 70%. Unfortunately, the COVID-19 pandemic contributed to the already existing struggles and brought so many more new challenges for small businesses to face for survival. Since the onset …