(NEWARK, NJ) --Invest Newark, Newark’s Economic Development Corporation, will host a webinar in partnership with Combs Enterprises to provide Newark minority-owned and women-owned small businesses with guidance on the SBA’s Payroll Protection Program (PPP). The virtual event will be held on Tuesday, April 28 at 4:00pm. Newark businesses can register for the event at https://bit.ly/2S9x8XW.
“The City of Newark has a strong minority-owned and women-owned small business community, and it’s critical that they have the same opportunity for Payroll Protection Loans as larger institutions,” said Newark Mayor Ras J. Baraka. “This webinar with Combs Enterprises and Invest Newark is intended to enable our businesses to get the funds they urgently need to retain their employees and in turn sustain their businesses.”
“We hope that our partnership with Sean Combs' team and his coalition of MWBE banks will provide more access to capital for diverse business owners,” said Bernel Hall, President & CEO, Invest Newark. “We are giving them the tools and tips to get through the process successfully.”
Sean “Diddy” Combs launched “Our Fair Share” on Thursday, April 23, 2020 to help minority entrepreneurs and small businesses play on an even playing field and give them a chance to thrive amidst uncertainty related to COVID-19. OurFairShare.com simplifies the payroll protection application process to business owners with certified SBA lenders.
“Minority and women entrepreneurs deserve access to the capital made available by the U.S. Government to enable small businesses to weather the economic crisis caused by the coronavirus,” said Tarik Brooks, Chief Operating Officer, Combs Enterprises. “The mission of “Our Fair Share” is to do just that in a clear and easy format.”
According to experts, based on how the SBA programs are structured, up to 90% of minority-owned and women-owned businesses have had a difficult time accessing financial assistance related to COVID-19 and will likely be shut out of PPP through a mainstream bank or lender. This webinar seeks to make the application process easier to complete and to ensure that Newark businesses understand Federal requirements subsequent for loan forgiveness.
The session will feature Mayor Ras J. Baraka, City of Newark, a discussion with Tarik Brooks, Chief Operating Officer, Combs Enterprises and John Lewis, Executive Vice President & Chief Administrative Officer, The Harbor Bank of Maryland as well as a PPP loan application tutorial.
Invest Newark, a NJ nonprofit 501(c)3 corporation, propels the City’s strong and diverse economy, builds vibrant communities, and creates opportunities for all Newarkers. Our dedicated team of expert planners, investment professionals, and innovators ensure all Newarkers have the resources to thrive. Invest Newark supports small, women and minority-owned businesses, invests in world-class internet service, spurs real estate development and executes economic development activities to produce and sustain economic growth, generate jobs and create wealth for the citizens of Newark.