Heard on the Street: new research on Philly small business ecosystem, Cook County receives funding to help small businesses, and PPP forgiveness starts

By August 9, 2021 Heard on the Street

Heard on the Street – here’s what we were reading last week:

Cook County Receives $1.25 Million to Support Small Businesses: Cook County received funding from DCEO and We Rise Together to support the Cook County Small Business Assistance Program, for which Next Street is the Program Administrator.

Bounceback: Small Businesses Are Nearing Pre-Pandemic Sales Levels: Although small businesses in general continue to climb back to their pre-pandemic level of sales, a recent national survey found the smallest firms are still hurting.

Report offers ways to address inequities among Philly’s minority-owned small businesses: In a report compiled by Next Street and partners, solutions fall into four key areas: access to capital, market opportunities, trusted services and ecosystem infrastructure.

P.P.P. loan forgiveness portal opens, but big banks opt out.: To speed forgiveness of Paycheck Protection Program loans, the government on Wednesday opened an online portal through which small businesses that borrowed up to $150,000 can apply to have their loans eliminated.