Who received PPP?
If you are curious who applied for and received a Paycheck Protection Program loan, the Small Business Administration and Department of Treasury have released two state-by-state lists of loan recipients under the PPP - one for those who received more than $150,000 in loans and those who received less.
To see the lists, go to home.treasury.gov and click on Policy Issues tab, then click on CARES Act and go to Assistance for Small Businesses. You'll be sent to the Small Business Administration site where you can download the lists.
PPP loans still available
If you have yet to apply for a federal Paycheck Protection Program loan, or aren't sure if you should, the deadline for applications has been extended to Aug. 8
The PPP is a loan to help small businesses keep their workers on the payroll and can supplement lost income for sole proprietors and independent contractors who have had to close temporarily or had operations restricted due to the coronavirus.
The Small Business Administration will forgive loans if all employment retention criteria are met, and the funds are used for eligible expenses.
The following small business owners, who have not already received a PPP, can apply for the loan program:
• Any small business concern that meets SBA's size standards (either the industry-based size standard or the alternative size standard);
• Sole proprietors, independent contractors and self-employed persons;
• Any business with a NAICS Code that begins with 72 (Accommodations and Food Services) that has more than one physical location and employs less than 500 per location;
• Any business, 501(c)(3) nonprofit organization, 501(c)(19) veterans organization or Tribal business concern (sec. 31(b)(2)(C) of the Small Business Act) with the greater of 500 employees or that meets the SBA industry size standard if there are more than 500 staff.
In Taos County, you can apply through lenders such as Centinel Bank, US Bank and Hillcrest Bank.
If you wish to begin preparing your application, you can download a copy of the PPP borrower application form to see the information that will be requested from you when you apply with a lender.
For more information or advice, you can also call Anwar D. Kaelin, director, SBDC at UNM-Taos, 115 Civic Plaza Drive, at (575) 737-6219.
Walmart calls for U.S.-made products
Walmart's has opened the company's seventh annual Open Call for entrepreneurs ready to sell their U.S.-manufactured products. Business owners can apply for an opportunity to meet with Walmart buyers on Oct. 1, 2020 via virtual pitch meetings.
The deadline is Aug. 10 to apply to participate in this year's Open Call.
The application and additional information about the event are available via Walmart-jump.com. The event, scheduled for Oct. 1, kicks off Walmart's celebration of U.S. Manufacturing Month and will include similar programming to previous years.
In addition to one-on-one pitch meetings with Walmart buyers, participants will have an opportunity to hear directly from Walmart executives and learn from company leaders during smaller breakout sessions designed to inform, empower and encourage hopefuls.
"During this year of unprecedented challenges for U.S. businesses, Walmart remains committed to sourcing products made, grown or assembled in the U.S. By Investing in products that support American jobs, we are able to bring new exciting products to our customers, support new jobs in our local communities and invest in small business across the country." said Laura Phillips, Walmart senior vice president for Global Sourcing & US Manufacturing in a press release.
"For the first time, this year's Open Call event will be virtual, enabling even broader participation from potential new suppliers. We know how important this opportunity is for many small businesses, especially this year, and we are looking forward to seeing the new product submissions and meeting potential new suppliers."
This year's Open Call attendees could secure deals to supply products to a handful of stores in local markets such as those in New Mexico to supplying hundreds, even thousands of stores, Sam's Clubs and online at Walmart.com.
"We were walking into an entirely new and welcoming world," said Gwen Hurt, owner of Shoe Crazy Wine, in a statement about her experience at Walmart's 2018 Open Call where a Walmart buyer decided to test her product in 66 stores.
"Thanks to this relationship, we've been able to expand our operations to 15 employees while reinvesting in our community through the purchase of a once-abandoned warehouse and additional resources. It's a dream come true for our family."
In 2019, entrepreneurs from 48 states, Puerto Rico, Australia, Canada and Mexico pitched their American-made products to Walmart.