Biz Builder Mike

You can't sail Today's boat on Yesterdays wind - Michael Noel

Lendio’s New Report Reveals How Network of Lenders Converged to Secure $8 Billion in PPP Loan Approvals (Infographic)

by

Online lending platform Lendio announced on Wednesday its latest report reveals how its network of lenders converged to help secure $8 billion in Paycheck Protection Program (PPP) approvals. The lender reported that more than 100,000 small business owners utilized its online application to access the economic relief funds made available through the Small Business Administration (SBA). 

As previously reported, the PPP is part of the $2 trillion CARES Act signed on March 27, 2020, aimed at getting small business owners back on their feet and millions of Americans back to work following the COVID-19 pandemic. Following the first round, U.S. Senate passed $484 billion in new pandemic relief funds to provide additional funding to the PPP small business aid program, pay for coronavirus testing, and help hospitals deluged by sick patients during the COVID-19 pandemic. Lendio released a report last month highlighting the impact of PPP loans facilitated through its platform from April 3, 2020, to June 30, 2020. The report’s findings included the following:

  • An estimated 1.1 million jobs have been retained through PPP loans facilitated by Lendio.
  • The states with the most jobs retained are Florida (198,013), California (158,829), Tennessee (99,386), Texas (95,657), and New York (53,572).
  • 98% of PPP applicants through the Lendio platform are first-time Lendio customers.
  • The average loan amount is highest in Indiana ($172,349), District of Columbia ($148,302), Wyoming ($101,622), Maryland ($93,816) and New Jersey ($91,433).
  • The average loan amount is lowest in North Dakota ($25,482), Mississippi ($35,412), Iowa ($36,065), Oklahoma ($36,885) and Nebraska ($37,135).
  • The percentage of loans to women-owned businesses is highest in Montana (45%), Hawai (42%), Nebraska (40%), Vermont (39%), and New Mexico (38%).
  • The top industries funded are construction, healthcare, restaurants, retail, and manufacturing.

Speaking about the program’s success on the lending platform, Brock Blake, CEO and Co-founder of Lendio, stated:

“The Paycheck Protection Program was an ambitious endeavor from the onset. Without our lending partners, big and small, thousands of small business owners would have been left out of the program. We are grateful for the wide array of lenders who joined forces with the singular goal of saving small businesses.”

See the latest Lendio PPP infographic below.

Source

Soldiers Mind Project

by

gofundme.com/f/soldiers-mind-project

Mental Health is a major issue in the United States. Soldiers returning from service are at even worse risk especially if they went to war. Most of these cases are left un treated, wether it be by the uneven access to appropriate mental health services, or by ex service members with low income wages not being able to pay for the high cost of supplemental health insurance plans. A number of veterans experience depression, loss of purpose, overwhelming family crisis, and more. These conditions lead to substance abuse, homelessness, and suicide. Suicide deaths is considerably high in the veteran population, whereas more than 6,000 veterans have killed themselves each year since 2008. The Department of Veterans Affairs estimates that at least 500,000 soldiers suffer serious emotional problems, and approximately 20 die by suicide every day. Of those 20, officials say that an estimated 14 are not receiving regular care from the VA, and they struggle to find a solution as the percentage of suicide continues to increase year over year. Veterans that do not rely primarily on the VA health care systems to address their mental health needs once they return home from combat, do not have easy access to critical crisis-intervention services. This is why Those In Need Charities, Inc, a non-profit organization located in Miami, Florida is creating The Soldiers Mind project. With the help from the local Vet Center we will gain access to soldiers returning home from service and offer mental health services free of charge. We will provide for six months one on one with one of our volunteer counselors, and access to group sessions afterwards. With these sessions it will help the transitioning soldier deal with the struggles of coming back into the civilian life, and try to identify, and treat any mental health issues they may have. I myself am an OIF/OEF Iraq Veteran, and understand the troubles one faces trying to adjust to life outside of the military. This is why our team has decided to devote ourselves to helping our hero’s. With the donations we will secure a facility with staff, and connect with our volunteer counselors to begin assisting our vets. They deserve our help after the sacrifices they made to defend our freedom. I pray that you will donate to our cause and help us battle mental health in our veterans. Together we can make a difference, together we can save a veterans life.

If you or a veteran you know is struggling with mental health, please contact the Veterans Crisis Line at 800-273-8255

Source