Womply has registered as a loan officer for the SBA’s Paycheck Protection Program to help dying small businesses get quick cash stimulus

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SAN FRANCISCO – () – Womply, a software and API company serving small businesses and application developers, today announced it is helping small businesses in the US get faster access to Check Protection Program loans payroll as a verified loan officer for several SBA 7 (a) lenders.

Womply works with banks and financial institutions approved by the US Small Business Administration to provide repayable PPP loans. As a loan officer with formal relationships with approved PPP lenders, Womply helps small businesses get started quickly on their PPP loan application, collect required documentation, and maintain their place in accordance with SBA approved lenders.

Womply also helps other technology and service companies that serve small businesses streamline the PPP application process for their merchant customers. For more information, contact [email protected]

“Millions of small businesses are on the brink of death and in urgent need of access to capital,” says Womply Founder and CEO Toby Scammel. “A lot of these businesses have days, not weeks, before they can ever reopen. To help prevent a mass extinction event among small businesses, we are devoting all of our resources to helping them gain immediate access to capital.

In late March, the federal government approved $ 349 billion in emergency funding for small businesses through the $ 2,000 billion CARES Act’s PPP provision for economic relief from the COVID-19 outbreak. The PPP allows private lenders, approved by the SBA, to facilitate these forgivable loans to small businesses.

To speed up payment, Womply has partnered with approved lenders to streamline pre-loan processes so small businesses can reduce the time it takes to get cash on hand. Womply serves over 450,000 small businesses and has facilitated the pre-loan process on behalf of other private technology companies that serve millions of small businesses.

Small businesses have faced inordinate financial challenges as the COVID-19 pandemic has caused an unprecedented slowdown in the U.S. economy. Small business revenues have fallen, according to Womply’s analysis sudden and sustained decline since COVID-19 pressures peaked in the United States in mid-March, potentially with millions of businesses close effectively as trading volume dries up completely amid home orders to flatten the coronavirus curve.

“We’ve never seen an economic situation like this before, and the small businesses that make up half of the US economy are more at risk than any other sector of the economy,” Scammell said. “The PPP loan initiative is a vital first step in stabilizing these businesses, and our goal is to make the process as fast, effective and efficient as possible. We’re not a lender, but we can connect small businesses to lenders faster than anyone else. Time is running out for millions of businesses at imminent risk of death. ”

In addition to connecting small businesses directly to approved PPP lenders, Womply has reviewed all federal guidelines on the program and helped small businesses understand it. If you are running a business, you can consult a Detailed FAQ on the PPP program, see which documents your lender will likely need, and apply for a PPP loan right now. Womply’s dedicated support team is also ready to help.

About Womply

Womply’s mission is to help small businesses thrive in a digital world. Founded in 2011, Womply is the leading data and software provider for local businesses and the payments industry’s premier software partner. Our AI-powered data platform powers our CRM and marketing software, which serves over 450,000 small businesses across America. Additionally, Womply’s Data Platform helps innovative developers build more powerful software for businesses and consumers. To learn more, visit www.womply.com or by e-mail to [email protected]

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