Latest / The Steve Harvey Morning Show / District Director of the SBA, Terri Denison, urges entrepreneurs to take advantage of SBA resources.

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District Director of the SBA, Terri Denison, urges entrepreneurs to take advantage of SBA resources. · The Steve Harvey Morning Show

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  Speaker 1: entrepreneurs and people I like to call industry decision makers.
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  Speaker 1: My next guest is Terry Dennison. She's the Georgia District
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  Speaker 1: Director of the US Small Business Administration, you know as
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  Speaker 1: the s b A, and this role has made two
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  Speaker 1: thousand two. She's responsible overseeing the implementation of the SBA's
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  Speaker 1: financial counseling, training, and business development program for small business
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  Speaker 1: throughout Georgia. The SBA is the only cabinet level federal
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  Speaker 1: agency fully dedicated to small business and provides counseling, capital,
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  Speaker 1: and contracting expertise as the nation's only go to resource
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  Speaker 1: and voice for small business. If you're a small business owner,
• 2:39
  Speaker 1: listen up. This is a show you want you don't
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  Speaker 1: want to miss. She's my friend. Every time I get
• 2:45
  Speaker 1: a chance to bring on the show, she drops pearls
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  Speaker 1: of wisdoms to all entrepreneurs people who want to go
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  Speaker 1: into the entrepreneurial space. Even in the chaos of this situation,
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  Speaker 1: small business owners still so opportunities, and she was there
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  Speaker 1: to help them seize that opportunity. Georgia District process over
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  Speaker 1: one billion dollars for traditional sp A loans over the
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  Speaker 1: past year, despite the challenges of COVID ninteen. Please work
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  Speaker 1: with the money making conversation to Georgia District Director of
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  Speaker 1: the s p A, Terry Dennison, How are you doing, Terry?
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  Speaker 1: I'm doing fine. Great to see you again, too long.
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  Speaker 1: Thank you. You know well, I call you my friend,
• 3:23
  Speaker 1: I call you my friend, because you come on my
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  Speaker 1: show and you enlighten people about an organization that quite frankly,
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  Speaker 1: a lot of people know nothing about. And it's true.
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  Speaker 1: How do we how do we change that? Because, like
• 3:38
  Speaker 1: I said, I learned about it when I opened my
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  Speaker 1: comedy club way back in the day when I was
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  Speaker 1: living in Houston, Texas. I went in there. Resources were free,
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  Speaker 1: counseling was free. You guys were the organization of Texas,
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  Speaker 1: which is just the same like the SBA. Here. We're
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  Speaker 1: there to want to want me to be successful. If
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  Speaker 1: I was opening a nightclub, they will tell me you,
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  Speaker 1: here's a book, this is how you can work out
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  Speaker 1: your budget. They had counseling and organizations and things like that.
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  Speaker 1: So you've been at this hym. It's just two thousand
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  Speaker 1: two in the state of Georgia. Talk about the growth
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  Speaker 1: and then technology accelerating. Some of the opportunities are working
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  Speaker 1: as an entrepreneur with the s B A well. Definitely,
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  Speaker 1: this past year has really tested the idea of connecting
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  Speaker 1: with people virtually is not necessarily in all cases the
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  Speaker 1: best option, but it was an option that we could use,
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  Speaker 1: and I think it forced us to kind of up
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  Speaker 1: our game in terms of our technology and the application
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  Speaker 1: of that technology to reach across the state, because our
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  Speaker 1: office is responsible for the entire state of Georgia, and
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  Speaker 1: so this is definitely a tool that we can use
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  Speaker 1: for that. We also have a new program that is
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  Speaker 1: coming up. It's a pilot program under the American Rescue
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  Speaker 1: Plan called Unity Navigators, and that's where we would UH
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  Speaker 1: grant to key UH community organizations and stakeholders who have
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  Speaker 1: networks within the communities across the state UH to basically
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  Speaker 1: be that liaison between us and the small business community. UM.
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  Speaker 1: Sometimes it's hard for us as a federal government agency
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  Speaker 1: being the government to UM connect or people feel they
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  Speaker 1: can connect to us, and this is a way for
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  Speaker 1: us to utilize those stakeholders that already have a reputation
• 5:38
  Speaker 1: in various communities UM to be more knowledgeable about US
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  Speaker 1: and to help connect us to those small business owners
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  Speaker 1: existing and UH perspective in those communities. Well, you know,
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  Speaker 1: you're just really interesting you're saying that, because let's just
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  Speaker 1: use the terminology when you when they always talk about
• 5:56
  Speaker 1: the police, they always say if the police would be
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  Speaker 1: in the neighborhood and it would be better served for
• 6:01
  Speaker 1: that neighborhood. So it sounds like you're taking your the brand,
• 6:05
  Speaker 1: which is a national brand, there's also localized in each state,
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  Speaker 1: and now you're taking it more into the community. Let's
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  Speaker 1: let's stay on that a minute, because I think that's
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  Speaker 1: really uh important. We talked about the Community Navigator, which
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  Speaker 1: is a program and established to provide grants to organizations
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  Speaker 1: and local communities that help small businesses connect to local
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  Speaker 1: sp A resources. And that's what we're talking about the
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  Speaker 1: very top about. I know about the s b A,
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  Speaker 1: but a lot of people who need to know about
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  Speaker 1: the s b A know nothing about it. And that's
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  Speaker 1: what the Community Navigator will be able to help in
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  Speaker 1: this role correct now when they serve as a link
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  Speaker 1: between these small businesses existing and the startups. Now, let's
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  Speaker 1: let's talk about if you can walk me through and
• 6:48
  Speaker 1: slows down because we always hear about the opportunities terror
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  Speaker 1: you always hear about, well you know this is available
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  Speaker 1: to you, but still how do you access it? So
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  Speaker 1: we have this great Community NAVIGA aid the program. How
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  Speaker 1: do I access that program? Uh? And also I'll be
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  Speaker 1: interested in knowing how I can be a part of
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  Speaker 1: that program. It feels like something that my organization of
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  Speaker 1: me and general should be naturally associated with because I'm
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  Speaker 1: always trying to be that connected dot with local local businesses,
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  Speaker 1: and that's local businesses, local entrepreneurs, and a lot of
• 7:19
  Speaker 1: times people need to understand it's not always a brick
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  Speaker 1: and mortar. You know, entrepreneur has a wide range of
• 7:25
  Speaker 1: opportunities where and so don't be confused that you gotta
• 7:29
  Speaker 1: you gotta be selling, you gotta be a restaurant, you
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  Speaker 1: gotta be a mechanic store, or you gotta be your
• 7:34
  Speaker 1: place of a full fledhed business. You are a business
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  Speaker 1: and you have to reach certain requirements. Now, this Community Navigator,
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  Speaker 1: how long it hasn't been in place Terry well as
• 7:45
  Speaker 1: actually just was passed back up and that would be
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  Speaker 1: in March when the American Rescue Plan was uh and
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  Speaker 1: acted and we're really just getting the program off the ground. Currently,
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  Speaker 1: the agency is accepting proposals from various organizations what we
• 8:05
  Speaker 1: call hubs, which would be like the lead organization, and
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  Speaker 1: they will be presenting proposals on how they utilize spokes
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  Speaker 1: or other smaller organizations within a certain area. Could be nationally,
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  Speaker 1: it could be statewide or within a certain geographic area
• 8:24
  Speaker 1: says city or county UM, so that actually that application
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  Speaker 1: process goes through July was actually extended to allow the
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  Speaker 1: maximum number of applications to be submitted as possible. So
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  Speaker 1: purpose of the progress we stated earlier is kind of
• 10:41
  Speaker 1: creating a more a more granular, a more localized level
• 10:46
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  Speaker 1: feel called, the would extended the conversation because a lot
• 11:02
  Speaker 1: of people feel they just it's just just program may
• 11:04
  Speaker 1: beyond their needs and their means because the SBA offers
• 11:07
  Speaker 1: loans and we're gonna break that down, but I want
• 11:10
  Speaker 1: to talk about this program is a little bit more so.
• 11:13
  Speaker 1: Through July twenty three, you say, individuals can go online
• 11:17
  Speaker 1: at the website, where can they go? They would go
• 11:21
  Speaker 1: to grants dot gov, which is the official federal government
• 11:25
  Speaker 1: portal for submitting grant applications. So you didn't look up
• 11:30
  Speaker 1: community Navigators and grant that the will take you to
• 11:34
  Speaker 1: the page, give you all the updates regarding the request
• 11:38
  Speaker 1: for proposal document and what's being asked and of course
• 11:42
  Speaker 1: what documents need to be submitted. Okay, cool, well, good, good?
• 11:46
  Speaker 1: What your board gonna get on net not Terry. I'm
• 11:49
  Speaker 1: excited about this opportunity, and so let's talk about does
• 11:52
  Speaker 1: National Small Business Week? You know, usually stuff time. I'm
• 11:55
  Speaker 1: just getting ahead of the curve now because I've learned
• 11:57
  Speaker 1: that if you don't get ahead of the curve to
• 12:00
  Speaker 1: area with information, people always say I didn't know, I
• 12:03
  Speaker 1: didn't know, nobody told me. So we know that National
• 12:06
  Speaker 1: Small Business we will be celebrating mid September, you know,
• 12:09
  Speaker 1: and no wards will be given this year, but it
• 12:11
  Speaker 1: would be recognized. Steve, when I like to call we
• 12:14
  Speaker 1: have been, Uh, I've been. I've been. I've been interviewing
• 12:17
  Speaker 1: people from Texas, from California, from New York, and I
• 12:19
  Speaker 1: say that I'm talking about small business owners and it
• 12:22
  Speaker 1: has been a challenge to understand how you can keep
• 12:26
  Speaker 1: your bills on the table, your people, your employees employed.
• 12:30
  Speaker 1: What has been the most trying um controversy I shouldn't
• 12:34
  Speaker 1: say they were, but trying opportunities of trying to keep
• 12:38
  Speaker 1: these businesses afloat other than the p p P program
• 12:41
  Speaker 1: of loan programs. Terry Well, I think even before we
• 12:46
  Speaker 1: get to the money aspect, one of the biggest challenges
• 12:49
  Speaker 1: as that was you know people's business models. And if
• 12:54
  Speaker 1: you had a business model that was dependent upon people
• 12:58
  Speaker 1: coming into a look ation or you interactive with them
• 13:01
  Speaker 1: face to face. Um, now you've got to change that
• 13:05
  Speaker 1: dynamic because of the restrictions, you know, the social distancing
• 13:10
  Speaker 1: and business is actually being closed for a time and
• 13:13
  Speaker 1: then once they reopened, they had to meet certain guidelines,
• 13:16
  Speaker 1: uh for safety and health purposes. So a lot of
• 13:20
  Speaker 1: businesses were just trying to figure out, how do I
• 13:22
  Speaker 1: now deliver my good or my service in a way
• 13:26
  Speaker 1: that I had not envisioned originally or normally we would not. Uh.
• 13:31
  Speaker 1: People had to rethink things like, uh, there's supply the
• 13:34
  Speaker 1: supply chain because even if I'm operating to some degree
• 13:40
  Speaker 1: now the suppliers that help provide the good or service
• 13:43
  Speaker 1: that I'm delivering, those have been disrupted as well. And
• 13:48
  Speaker 1: now we've got to try to figure out how do
• 13:51
  Speaker 1: we get what we need to keep the business going.
• 13:54
  Speaker 1: So I really my hand my hats off to our
• 13:57
  Speaker 1: resource partners such as SCORE, the Small Business Development Centers
• 14:02
  Speaker 1: and the Women Business Centers who have really helped the
• 14:05
  Speaker 1: Georgia District Office in working with businesses, not only in
• 14:09
  Speaker 1: terms of accessing the various resources with p PP and
• 14:15
  Speaker 1: the economic injury, disaster, longs, etcetera. But helping people figure
• 14:18
  Speaker 1: out how to manage and structure their organizations and their
• 14:22
  Speaker 1: operations to meet the challenges of the situation, well, you know,
• 14:27
  Speaker 1: and you never know where the challenge comes from or
• 14:29
  Speaker 1: whether whether because I'm gonna tell you when the Panama
• 14:32
  Speaker 1: came here, when that that ship got trapped and just
• 14:36
  Speaker 1: I um, it affected me personally because I I take
• 14:39
  Speaker 1: cows and pills and I went into Walry when the
• 14:42
  Speaker 1: CVS and I was like Franally, I said, excuse me,
• 14:45
  Speaker 1: what's going on? Easie man? He said, that ship there's
• 14:49
  Speaker 1: blocking the Panama camal is shutting down all available transport
• 14:55
  Speaker 1: between that canal. And so that's what we just need
• 14:58
  Speaker 1: to know. This may be in the co with their team,
• 15:00
  Speaker 1: but there are other scenarios out there that can stop
• 15:03
  Speaker 1: you from becoming a resourceful company if you don't plan
• 15:07
  Speaker 1: ahead or you don't have alternative sources to move your
• 15:10
  Speaker 1: product forward. That's what you were talking about, right, Terry. Correct.
• 15:15
  Speaker 1: And one of the things you know, we talk about
• 15:17
  Speaker 1: business plans. Of course, a lot of people don't bother
• 15:19
  Speaker 1: with business plans, which of course, that's another discussion why
• 15:23
  Speaker 1: you should do one. But even when they do the
• 15:26
  Speaker 1: business plan, they kind of focus on the maybe the
• 15:30
  Speaker 1: most likely scenario or the best case scenario, But we
• 15:34
  Speaker 1: never look at the other end of the spectrum. What
• 15:37
  Speaker 1: if things don't go according to plan? What if my
• 15:42
  Speaker 1: UH supply chain and delivery systems are compromised because of
• 15:47
  Speaker 1: a given situation or emergency. UM, what if my revenues
• 15:52
  Speaker 1: go down? UH? What does that look like in terms
• 15:57
  Speaker 1: of my bottom line or my expenses? The well, you know,
• 16:00
  Speaker 1: with COVID nineteen, people now I had to think about
• 16:03
  Speaker 1: additional cleaning, you know, methods, more frequent cleaning, certain types
• 16:08
  Speaker 1: of equipment they had to think about ppe of course,
• 16:13
  Speaker 1: personal protection equipment. That was extra expenses they had not
• 16:17
  Speaker 1: envisioned UH prior to the pandemic. So when you're doing
• 16:21
  Speaker 1: business plan and you've really got to look at the
• 16:23
  Speaker 1: full range of possibilities and have at least an outline
• 16:27
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• 16:41
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• 16:44
  Speaker 1: with arms outstretched to the sky. They see treasure and pebbles.
• 16:48
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• 16:51
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  Speaker 1: here outside the Perez family home, just waiting for the
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  Speaker 1: the AD Council. Well, let's talk about the budget that
• 18:37
  Speaker 1: it seems to be nobody wants to do a budget,
• 18:39
  Speaker 1: but everybody wants to run a business. How can we
• 18:43
  Speaker 1: convince people, Terry, come on, help me, I tearry this
• 18:48
  Speaker 1: a budget. You got to know what your expenses are,
• 18:52
  Speaker 1: not just how much you're trying to generate. That there
• 18:56
  Speaker 1: has to be a plan special If we're not talking
• 18:58
  Speaker 1: about a one off party one A part of you
• 19:00
  Speaker 1: probably get away with that. If you're trying to do
• 19:03
  Speaker 1: sign elits with somebody, if you're trying to lockdown employees,
• 19:07
  Speaker 1: if you're trying to generate revenue on a consistent daily, weekly,
• 19:10
  Speaker 1: and monthly and annual basis, there has to be a
• 19:14
  Speaker 1: budget time to that. And that's where the SCORE organization,
• 19:17
  Speaker 1: which is part of s b A can assist young, old,
• 19:22
  Speaker 1: or people who are trying to follow their dreams with
• 19:25
  Speaker 1: the budget planning part correct, Terry, Yes, we have SCORE
• 19:30
  Speaker 1: that can help with that. The Small Business Development Centers
• 19:33
  Speaker 1: we partner here with the University of Georgia have numerous
• 19:37
  Speaker 1: locations around the state, as does SCORE. We have a
• 19:40
  Speaker 1: Women's Business Center that can provide assistance UH for women
• 19:45
  Speaker 1: entrepreneurs particularly, but they insisted the mail owned businesses as well.
• 19:51
  Speaker 1: But there's a lot of different resources and expertise that
• 19:54
  Speaker 1: can sit down with you and kind of help you
• 19:57
  Speaker 1: work through those types of questions and issue. And the
• 20:00
  Speaker 1: counseling is free. Say that one more time. The counselors
• 20:04
  Speaker 1: right now, the counselor you do not have to pay
• 20:06
  Speaker 1: for the counsel but in a way you have because
• 20:09
  Speaker 1: as a taxpayer, your tax dollars go to help on
• 20:13
  Speaker 1: the right score and the small business development centers, Women's
• 20:16
  Speaker 1: business centers, etcetera. So you're just recouping on the investment
• 20:21
  Speaker 1: you've made as a taxpayer. Really, and and here's I'm
• 20:24
  Speaker 1: tell you him. It's never packed. It's people are in there,
• 20:27
  Speaker 1: but it's never like a line out the door, so
• 20:30
  Speaker 1: you will not be discouraged by going in there, and
• 20:32
  Speaker 1: then they're receptive to you. I'm just talking about my experience,
• 20:36
  Speaker 1: you know. I I have a relationship in Texas, have
• 20:38
  Speaker 1: a relationship in Georgia with the s b A. And
• 20:41
  Speaker 1: I'm fans of trying to tell people how important it is.
• 20:44
  Speaker 1: It was a young man, uh and his brother, Uh,
• 20:48
  Speaker 1: we're looking at opening up a local restaurant. Look kind
• 20:51
  Speaker 1: of like a subway type set up, you know, but
• 20:53
  Speaker 1: it was original food. And I asked him it was
• 20:55
  Speaker 1: like three weeks ago, Terry, I said, uh, he kept
• 20:59
  Speaker 1: asking me for and I said, you gotta put together
• 21:01
  Speaker 1: but you said I got there, sir. He said said, well,
• 21:03
  Speaker 1: you need to get a design layout, because you really
• 21:06
  Speaker 1: can't get a layout of before they're working. I said,
• 21:08
  Speaker 1: have you been to the SPA? He went, what you're
• 21:11
  Speaker 1: talking about? I said, wow, Okay, cool, here we go,
• 21:13
  Speaker 1: Here we go. Now, you gotta go there because it's
• 21:17
  Speaker 1: free and you gotta start talking. And they have mentors.
• 21:20
  Speaker 1: They're like mentors. I'm just telling everybody there's being like mentoring.
• 21:24
  Speaker 1: They're mentoring young businesses to be successful. Because the goal
• 21:29
  Speaker 1: is the current administration has a new goal to increase
• 21:33
  Speaker 1: small disadvantaged business contracting goals from five percent. Okay, this
• 21:39
  Speaker 1: is an initiative to empower underserved communities. Now you might
• 21:43
  Speaker 1: say I'm not underserved. Well, if you don't know any
• 21:45
  Speaker 1: information about how to run your business, you are undeserved
• 21:48
  Speaker 1: and you need to gain information. And that's what the
• 21:50
  Speaker 1: SPA is about. Talk about what I just said about
• 21:54
  Speaker 1: increasing the goal of disadvantage of business contracting goals from
• 21:58
  Speaker 1: five percent to fift percent. Because what we're just trying
• 22:01
  Speaker 1: to tell everybody, Terry, is that you are on a mission.
• 22:04
  Speaker 1: You've always been on a mission, and your mission and
• 22:06
  Speaker 1: your organization is to really tell minorities and invite them
• 22:10
  Speaker 1: into this diverse pool of entrepreneurial opportunities. Correct, yes, that
• 22:15
  Speaker 1: is correct, and um with in terms of the small
• 22:20
  Speaker 1: disadvantaged business thole. You know, the federal government buys a
• 22:24
  Speaker 1: lot of products and services. And given year, we spend
• 22:31
  Speaker 1: government wide five hundred billion, six hundred billion dollars and
• 22:36
  Speaker 1: goods and services throughout the federal various federal agencies. So
• 22:41
  Speaker 1: there's a lot of opportunity things that you wouldn't necessarily
• 22:44
  Speaker 1: think of the government purchasing, you know, at first thought,
• 22:49
  Speaker 1: you realize they do. So it's always been a goal.
• 22:52
  Speaker 1: How do we make sure that all segments of the
• 22:54
  Speaker 1: small business community, as well as the small business community
• 22:58
  Speaker 1: as a whole it from uh, participating in the federal
• 23:03
  Speaker 1: procurement system. Uh. And we do have programs and tools
• 23:06
  Speaker 1: to help people who are looking to enter the federal
• 23:09
  Speaker 1: contracting market or to expand their presence and activity in
• 23:13
  Speaker 1: that market. Uh. You know, it's really it's really amazing.
• 23:18
  Speaker 1: When I talked to you, Terry, you know some ways,
• 23:20
  Speaker 1: I you know, you know, you know me, I I
• 23:22
  Speaker 1: can get frustrated because I just want to give information.
• 23:25
  Speaker 1: I want people to win. And I'm talking to If
• 23:27
  Speaker 1: you don't know who I'm talking to, Terry Dennison. She's
• 23:30
  Speaker 1: a Georgia District director of the US Small Business Administration,
• 23:34
  Speaker 1: you know it as you know it as the s
• 23:36
  Speaker 1: B A she's been in his roles. Is made two
• 23:39
  Speaker 1: thousand two when I came in this marketing teen with
• 23:42
  Speaker 1: money Making Conversation. She's one of the very first guests
• 23:45
  Speaker 1: that I brought on the air. And when I and
• 23:47
  Speaker 1: and it really and reason, that's what money making conversations about.
• 23:50
  Speaker 1: It's about letting you see and talking to I call
• 23:54
  Speaker 1: industry decision makers. That's what she is. She's not a celebrity,
• 23:57
  Speaker 1: she's not She's an industry decision maker. In the words,
• 24:00
  Speaker 1: she can give you information that can change your life.
• 24:03
  Speaker 1: And when I say change your life, we're talking about
• 24:05
  Speaker 1: so many people who are trying to open up businesses
• 24:08
  Speaker 1: and trying to run a business and have no knowledge
• 24:11
  Speaker 1: of that opportunity. And so tell us the primary role
• 24:15
  Speaker 1: of the s b A. And I'm gonna ask a
• 24:17
  Speaker 1: couple of more questions before I let you get you
• 24:18
  Speaker 1: out of here. Okay, Oh, what is our role? Okay? Well,
• 24:23
  Speaker 1: of course we're federal government agency. A lot of people
• 24:25
  Speaker 1: don't realize that. They think we're a nonprofit organization, but
• 24:29
  Speaker 1: we are part of the federal government and we've been
• 24:32
  Speaker 1: around since Ninette and our mission has always been to
• 24:36
  Speaker 1: support the U S economy. Through supporting small business in
• 24:40
  Speaker 1: terms of small business creation and uh uh growth. We
• 24:46
  Speaker 1: do that in a variety of ways. We have our
• 24:49
  Speaker 1: loan programs, mainly our loan guaranteed programs where we guarantee
• 24:53
  Speaker 1: loans made by commercial lenders. We also have a micro
• 24:58
  Speaker 1: loan program for those A and UM businesses that maybe
• 25:03
  Speaker 1: they're home based or as a sole preneurs. They don't
• 25:06
  Speaker 1: need a lot of capital, they don't need millions of dollars,
• 25:10
  Speaker 1: but they need what they need when they need it,
• 25:12
  Speaker 1: so they provide loans up to UH fifty dollars and
• 25:17
  Speaker 1: those are done by nonprofit community development financial institutions, so
• 25:23
  Speaker 1: they may have a they have a little more leeway
• 25:25
  Speaker 1: in terms of how they look at credit compared to
• 25:28
  Speaker 1: a commercial lender. For profit UH We've talked about the
• 25:32
  Speaker 1: counseling and education resources that we have for people who
• 25:36
  Speaker 1: got an idea and don't know what the next step
• 25:39
  Speaker 1: should be. To someone who's been in business, they've gone
• 25:42
  Speaker 1: through the start up stage. Now maybe they have new challenges,
• 25:45
  Speaker 1: new opportunities because of their growth, and now they need
• 25:49
  Speaker 1: to prepare and situate that business to be able to
• 25:53
  Speaker 1: enter the new stage of that business life cycle. And
• 25:57
  Speaker 1: then the government contracting peace which we alluded to earlier
• 26:01
  Speaker 1: to help small businesses that want to into that market
• 26:04
  Speaker 1: from five up to now before one area I wanted.
• 26:08
  Speaker 1: There's a lot of things that were created during covid
• 26:10
  Speaker 1: ateen pandemic. The SBA delivered various relief programs. I want
• 26:14
  Speaker 1: to ask you if these programs not trying to put
• 26:16
  Speaker 1: you on the spot. If you unaware of the UH,
• 26:18
  Speaker 1: please let me know. But I wonder know if they're
• 26:20
  Speaker 1: still in existent. If they are still in existence, what
• 26:22
  Speaker 1: purpose do they serve. I'm gonna start off with the
• 26:25
  Speaker 1: Paycheck Protection Program program that I used UH in the
• 26:29
  Speaker 1: month of May UH to help paid my staff when
• 26:32
  Speaker 1: the country was shut down. So talk about the payroll
• 26:35
  Speaker 1: Protection program. Is that's still available and how is it
• 26:39
  Speaker 1: serving a purpose now that the country is opening back up. Well, actually,
• 26:43
  Speaker 1: the Paycheck Protection Program or p p P sunset on
• 26:48
  Speaker 1: it's sunset on May thirty one. Okay, okay, So UH,
• 26:54
  Speaker 1: SBA no longer took applications from participating lenders and we've
• 26:58
  Speaker 1: actually cleaned out the backlog of applications and it's totally
• 27:03
  Speaker 1: shut down as of June thirty. Okay, cool, Great, what
• 27:06
  Speaker 1: about the Restaurant Revitalization Fund program? Is that still available? Actually,
• 27:12
  Speaker 1: that is not. Uh, it was a case of a
• 27:15
  Speaker 1: lot of demand versus what was allocated for the program.
• 27:20
  Speaker 1: Point six million, excuse me billion was allocated for the program.
• 27:24
  Speaker 1: We received applications nationwide totally around seventy billion, so that
• 27:30
  Speaker 1: money went pretty quickly. So currently the program is closed,
• 27:35
  Speaker 1: and I know there's been some discussion of maybe Congress
• 27:39
  Speaker 1: providing more funds and we'll just have to wait and
• 27:41
  Speaker 1: see about that, but it is closed as of now.
• 27:44
  Speaker 1: Sore basically letting everybody know that the country is coming
• 27:48
  Speaker 1: back to normal. The supports system that you may have
• 27:52
  Speaker 1: experienced or may have been a part of previously during
• 27:54
  Speaker 1: the COVID of has changed. But you do have a
• 28:00
  Speaker 1: wearing new online programs and learning coaching platforms like the
• 28:03
  Speaker 1: Ascent for Women business Owners. That is that new or
• 28:06
  Speaker 1: that's something that's been around it I'm just made aware
• 28:09
  Speaker 1: of through this interview. No, it's relatively new. It launched
• 28:13
  Speaker 1: back in January of this year. It had been several
• 28:17
  Speaker 1: years in the making, but it was really created to
• 28:20
  Speaker 1: help women owned businesses who have gone through the start
• 28:24
  Speaker 1: up phase and now they're in a position or considering scaling.
• 28:30
  Speaker 1: That's been one of the biggest challenges I think the
• 28:33
  Speaker 1: women owned businesses and probably other underserved communities as well.
• 28:37
  Speaker 1: You know, we're may be able to get the business started,
• 28:40
  Speaker 1: but it remains basically a self employment. Awesome. I want
• 28:44
  Speaker 1: to wrap so this is about how you get to
• 28:47
  Speaker 1: that next stage, especially if you have the market and
• 28:50
  Speaker 1: the product of service that is scalable. And I want
• 28:53
  Speaker 1: to just close out by bringing up the Community Navigator's
• 28:56
  Speaker 1: program again, which I've been very excited about. You said,
• 28:59
  Speaker 1: just go to EVA lable on grants dot gov. Right,
• 29:02
  Speaker 1: if you go there and this is this is an
• 29:05
  Speaker 1: RFP type or response to this if you want to
• 29:08
  Speaker 1: be a part of being considered for this in the
• 29:10
  Speaker 1: state of Georgia only correct. Well, actually it's nationwide. Okay, okay, cool,
• 29:15
  Speaker 1: it's nationwide, so they're looking to give rewards out across
• 29:19
  Speaker 1: the country. Uh. What I would say is, once again,
• 29:22
  Speaker 1: it's for organizations of nonprofit entities, government entities that uh
• 29:29
  Speaker 1: or you know, provide technical assistance to small businesses. So
• 29:34
  Speaker 1: it's not to finance small businesses themselves. Okay, cool, And
• 29:37
  Speaker 1: I want to clear so the Community Navigator has to
• 29:39
  Speaker 1: be a nonprofit. That is correct. Okay, cool, great, I
• 29:43
  Speaker 1: want to make sure that everybody understood that. Again, Terry Denison,
• 29:46
  Speaker 1: thank you for coming on my show. You've been fantastic
• 29:48
  Speaker 1: as usual. Like I said, when I go live with
• 29:51
  Speaker 1: on w c OK in the fall, I want to
• 29:52
  Speaker 1: bring you back and we celebrate and take some phone
• 29:55
  Speaker 1: calls to the properly screen of course, to talk about
• 29:58
  Speaker 1: how we can move forward and continue to grow entrepreneur
• 30:02
  Speaker 1: especially in disadvantage of goods, especially in minority community. Because
• 30:06
  Speaker 1: my goal, my passion is let everybody know that SPA
• 30:09
  Speaker 1: is there for you. As she clearly stated, it's your money.
• 30:13
  Speaker 1: Your money is being spent. That's why, what's why Scorer
• 30:16
  Speaker 1: is there, That's why all these organizations are there. So
• 30:18
  Speaker 1: why not use resources that you've already paid for. Thank
• 30:22
  Speaker 1: you again, Terry Dennison for coming on Money Making Conversations.
• 30:26
  Speaker 1: It's been a pleasure. I look forward to seeing you again. Okay,
• 30:29
  Speaker 1: thank you very much. If you want to see or
• 30:31
  Speaker 1: hear any of my interviews on Money Making Conversation, please
• 30:34
  Speaker 1: go to money Making Conversation dot com. I'm Sean McDonald.
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