Into the fray (again)

INC. THIS MORNING Into the fray (again) Good morning, Earlier in the pandemic, the country’s smallest businesses and those owned by people of color were last in line for Covid-19 relief. And they may well be again. The Small Business Administration, in consultation with the U.S. Treasury, announced Friday that it will relaunch the Paycheck Protection Program today for borrowers at so-called community financial institutions. That's two full days before the portal opens to second-draw PPP borrowers on January 13. The new version of the PPP is a $284 billion refundable loan program aimed at struggling small businesses. Eligible second-draw borrowers include businesses that have already exhausted their first PPP loans or will do so soon, have 300 or fewer employees, and suffered at least a 25 percent drop in quarterly revenue last year, compared to 2019. The goal of the measured rollout, according to the guidance provided by the two agencies, is to ensure increased access to PPP for minority, underserved, veteran, and women-owned businesses by reaching them first through community institutions. That doesn’t mean there won’t be problems. For starters, as of Friday, the actual loan applications were still unavailable, and lenders are still scrambling to build out their systems for the program. Read our story to learn what to expect as the PPP begins again--and why you should plan for yet another choppy rollout. SPONSORED CONTENT This Startup Is Making the Best Jeans of 2021 In Revtown’s book, 3 things make great jeans: comfort, function, and durability. That’s why their Decade Denim jeans are made with proprietary, Italian denim that’s tough as nails, but still mobile. The kicker? By working directly with the customer you get designer quality denim for half the price. Inc.’s Best Workplaces. Apply today! Inc. ’s Best Workplaces awards the company cultures that thrive in the face of adversity. Cultures that in response to a pandemic redefine the workplace and continue to enrich it. Cultures that foster employee growth and advancement at all levels. Apply today to be recognized as a place where people love to work, one that sets the standard for excellence in company culture. Regular rate deadline: January 15, 2020. Apply Now. HERE'S WHAT ELSE I'M READING TODAY: How far would you go for your customers? This retail startup stayed open through a hurricane without missing a beat. --Inc.  Video: Airbnb advisor Chip Conley says that great leaders "lead with questions." Here’s why. --Inc. The U.S. economy saw overall job losses in December for the first time in eight months, as the surging virus continues to take its toll. --CNBC The Federal Communications Commission no longer plans to change Section 230 before the Trump Administration ends. --Protocol Elon Musk just surpassed Jeff Bezos to become the world's richest person. His response? "Back to work." --Inc. Want to master a new skill in the new year? First, commit to being terrible at it for 30 days. --Inc. Correction: Friday’s edition of Inc. This Morning misstated the launch date for the next round of the Paycheck Protection Program. It begins today for select borrowers, and will end on March 31, or as long as funds last. --Cameron Albert-Deitch Reporter, Inc. How are we doing? Send me ideas and feedback for Inc. This Morning at calbertdeitch@inc.com or on Twitter, and sign up for daily text messages from me. Click here to forward to a friend. This email was sent by: Mansueto Ventures 7 World Trade Center, 29th Floor New York, NY, 10007, Unsubscribe • Update Profile • View in Browser • Privacy Policy