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SAN FRANCISCO – (BUSINESS WIRE) – Womply, the local commerce platform that provides applications, APIs, marketing and financial tools to more than 500,000 small businesses, today announced an integrated partnership with DreamSpring, a non-profit lender serving entrepreneurs and small businesses. DreamSpring joins Womply’s Fast Lane PPP program, which enables smaller businesses to access vital Paycheck Protection Program (PPP) funding with as little friction as possible, while helping borrowers stay compliant and secure. minimizing program fraud.
PPP Fast Lane was designed to serve qualifying underserved businesses (and workers) who have so far had difficulty accessing the Paycheck Protection Program. These eligible borrowers, which include micro-enterprises, pay-per-view workers, independent entrepreneurs, among others, are frequently found in low- and middle-income communities and in minority communities, making access to the program d ‘all the more important.
Womply’s data also shows that as businesses get smaller, they’re less likely to:
Know that they may be eligible for PPP
Know how to apply for PPP
Have a trusted advisor or banker who can help them understand the rules and apply
PPP Fast Lane is a simple web-based data collection process designed to simplify the PPP process by removing the friction that only applies to large businesses. PPP Fast Lane includes multiple layers of fraud prevention and identity verification, which is essential for serving large-scale PPP loans in accordance with government regulations. Borrowers do not need a registered business entity, business license, official place of business, professional bank account, accountant, lawyer or banker business to apply for a PPP. Immediately after completing PPP Fast Lane, applicants will be matched with their SBA approved lender.
“DreamSpring is dedicated to accelerating access to the capital that small business owners need so badly and amplifying economic inclusion in everything we do,” said Marisa Barrera, Director of Impact, DreamSpring. “Our customers are real people whose businesses shape neighborhoods and communities. They are entrepreneurs of color who create assets and jobs, residents of rural communities who keep their main streets alive, immigrants chasing a cherished dream. to be in business, and many more. We are grateful to partners like Womply who help us ensure our clients are on the fast track to P3 financing and drive economic recovery. ”
“In this round of PPP funding, we have deployed our data platform to create PPP Fast lane and help smaller businesses with eligibility, qualification, verification, fraud detection and application streamlining,” said Toby Scammell, CEO and co-founder of Womply. “We are delighted to see Congress, the White House, the SBA and innovative lending partners such as DreamSpring working to help these deserving small businesses. We are committed to expanding our programs to reach new candidates who can put P3 money to work to rebuild America. ”
Applying for PPP with PPP Fast Lane and DreamSpring is free. There is no personal or business credit check. If in doubt, start your application on womply.com/ppp.
Womply’s mission is to help local businesses thrive in a digital world. Founded in 2011, Womply is a local commerce platform that provides applications, APIs, marketing and financial tools to drive local commerce for more than 500,000 US businesses and their customers. All of Womply’s products and services are powered by the Womply Commerce Graph, a proprietary data asset that provides the most comprehensive view of local commerce. To learn more, visit www.womply.com or email [email protected].
DreamSpring is a non-profit organization, founded in 1994, that increases access to business credit, grants loans and provides support to enable entrepreneurs to realize their dreams and be catalysts for positive economic and social change. . Serving 18 states, DreamSpring is dedicated to helping entrepreneurs and business owners generate income, create assets, create jobs, and achieve financial well-being through business ownership.
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