IMPORTANT UPDATE FOR 2021: Congress has approved an extension of the PPP loan program until March 31, 2021, including “second draw” PPP loans for businesses that received PPP funding in 2020. Start your PPP loan application now!
As of February 3, 2021, 250,000 small businesses have used Womply—the local commerce platform—to apply for the Paycheck Protection Program (PPP). We are proud to have partnered with talented and tireless public servants at the Small Business Administration and Treasury Department to make the PPP successful. Our data shows that PPP stimulus has saved hundreds of thousands of businesses and protected millions of jobs.
- In 2020, Womply helped more than 100,000 small businesses access the PPP program, and the average loan size for our customers was $59,000.
- So far in 2021, Womply has helped another 150,000 businesses access the latest round of PPP. Year over year, Womply’s average loan size has fallen by 63% to $22,000—a direct result of our efforts to reach underserved, minority, and under-banked borrowers.
- Womply estimates that up to 30 million individuals and businesses are eligible for PPP loans.
- Government data from the Small Business Administration shows that only 6.1m PPP loans have been issued since the program launched last year. Therefore, nearly 80% of eligible borrowers have not yet benefited from this program.
Womply has helped more than 100,000 non-employers access PPP loans so far
Womply has helped more than 100,000 non-employers access PPP stimulus so far. Non-employers include workers with independent contractor earnings, self-employed income, or people who consider themselves sole proprietors. Womply has helped tens of thousands of gig workers and micro-businesses apply for PPP stimulus including those that receive payments from companies such as Airbnb (ABNB), DoorDash (DASH), Etsy (ETSY), Fiverr (FVRR), Shopify (SHOP), Square (SQ), Uber (UBER), Upwork (UPWK), Wix (WIX). People who work as contractors, truckers, housekeepers, farmers, gardeners, creators, resellers, and real estate agents may qualify.
Get your PPP loan or second draw PPP loan through Womply! Womply has helped over 250,000 businesses get their PPP funding. It’s free to apply for a PPP loan, and Womply can help connect you with an SBA lender that’s right for you! Start your PPP application.
“Non-employers don’t think of themselves as “small businesses” and therefore they don’t apply for the PPP even though they’re eligible. When in doubt, they should apply,” says Womply founder and CEO, Toby Scammell.
Borrowers don’t need a registered business entity, business license, official place of business, business bank account, accountant, lawyer, or business banker to apply. Applications take less than thirty minutes to complete. It’s free to apply and there is no credit check either for the individual or business. When in doubt, apply at womply.com/ppp.
If they act quickly, non-employers can receive immediate emergency PPP stimulus in amounts ranging from $1,000 to $41,666. Eligible non-employers that did not receive PPP stimulus in 2020 may be eligible for two PPP stimulus loans of up to $20,833 each (a so-called First Draw and Second Draw). Businesses with employees may receive a total of up to $12m.
“With the latest round of PPP funding we’ve deployed our data platform to help with eligibility, qualification, business verification, fraud detection, and streamlining applications,” says Womply founder and CEO, Toby Scammell. “We are supporting nearly 100 other companies that have small business customers or workers to help them all get access to the PPP program. And we are expanding our referral and affiliate programs to reach new applicants who can put PPP money to work rebuilding America.”
- Learn more about the PPP program in our PPP FAQs.
- View Womply’s PPP Stimulus Fact Sheet
- To learn more about our referral program: firstname.lastname@example.org
- Submit press inquiries to Justin Davies: email@example.com
Let Womply help you apply for your PPP loans!
As you know, it’s free to apply for a PPP loan, and we know you have lots of choices. So why should you let Womply connect you with an approved SBA lender? Because we know what we’re doing and people love the help we provide. We’ve helped over 250,000 businesses, contractors, sole proprietors, and self-employed individuals get approved. Don’t wait! The deadline is March 31, 2021.
Learn more, plus get free reputation monitoring and customer insights when you sign up for Womply Free!