Menu
Banking Exchange Magazine Logo
Menu

Blue Ridge Bank Launches PPP Platform for Self-Employed

Platform will help gig workers and contractors access government Covid-19 support

  • |
  • Written by  Banking Exchange staff
Blue Ridge Bank Launches PPP Platform for Self-Employed

Virginia-based Blue Ridge Bank has launched a platform help distribute emergency financial support to self-employed professionals and independent contractors.

The platform, EasyPPPzy, is part of a continued partnership with SK2 Capital and is designed to distribute Paycheck Protection Program (PPP) loans.

The EasyPPPzy platform is a digital PPP application portal that assists with applying for and distributing forgivable PPP loans to self-employed professionals and independent contractors. Gig economy workers, freelancers, drivers, and contractors can now complete their PPP application online.

“Self-employed professionals, including freelancers and gig economy workers, are a crucial part of our economy and we realized early on that they were facing substantial barriers to accessing Covid-19 relief funds,” said Roger Saad, chief executive and founder of SK2 Capital. “We endeavored to change that by using technology to make it easier for eligible people to access and apply for a PPP loan online.”

The launch follows the news that the Small Business Administration’s (SBA) PPP application deadline has been extended to May 31.

The American Lending Center (ALC), a non-bank lender to American ventures, said in a statement: “The program’s extension comes as a significant relief to current and future applicants across the country, as recent rule changes had created backlogs and delayed loans to numerous small business owners.”

CEO John Shen added: “We at American Lending Center were thrilled to hear of the extension – we have seen our PPP loans have a marked impact on underserved communities from coast to coast. The big banks are not always ready to guide our nation’s small businesses.”

Meanwhile, Bank of Southern California, a commercial bank headquartered in San Diego, reported that as of March 31, 2021, it had funded a total of $229 million in PPP loans since the program was renewed at the start of the year. The loans provided 1,578 local small businesses with financing.

The bank said it was able to help hundreds of small businesses in low and moderate-income areas through its outreach efforts aimed at supporting all businesses in need, and not just customers.

back to top

Sections

About Us

Connect With Us

Resources

WEBINAR:

Belt and Suspenders

Date/Time: October 19, 2:00 CT / 3:00 ET

How Multiple Layers of Defenses Work Together to Keep Your Bank Covered

Cyber threats and attack vectors are ever-changing, especially due to the current geopolitical climate and distribution of data. Financial institutions remain attractive targets for cyber criminals due to the amount of sensitive data they hold. Join CSI’s Director of Product Strategy, Sean Martin, for his insight into why and how institutions should embrace a holistic cybersecurity approach to strengthen their defenses against these evolving threats. You’ll learn: 

REGISTER NOW!

This webinar is brought to you by:
OneSpan logo