New collaboration will help minority businesses obtain access to SBA funding

SBA funding
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Special to The Dallas Examiner

 

The Dallas Black Chamber of Commerce is proud to announce its partnership with DBCC member, swys, and MyCaresAct, to help minority businesses quickly find and apply for SBA relief funding during the current COVID-19 pandemic. MyCaresAct, when accessed from a mobile device functions as an app, helps simplify the loan application process for business owners.

As Dallas is faced with the COVID-19 pandemic and the economic fallout associated with it, the DBCC is committed to working hard to provide critical resources for our members and Black businesses across the North Texas region.

“We understand that this pandemic is having harmful effects on businesses of all communities; still, we know it will have a disproportionately devastating effect on Black businesses,” said DBCC President Harrison Blair. “Although the DBCC cannot offer these loans directly, we know that our community would benefit from resources to help with the loan application process. That’s why we’re now collaborating with swys and MyCaresAct to continue to be an asset to the Black business community. As Congress negotiates additional funding for small businesses, we are positioning ourselves to help our businesses quickly get access.”

Swys and the DBCC are working with the U.S. Small Business Administration and qualified lenders to implement the Coronavirus Aid, Relief, and Economic Security Act – known as the CARES Act – to help provide relief to businesses who have been impacted by the COVID-19 pandemic. As the current government stimulus package with nearly $349 billion allocated to the Paycheck Protection Program runs out, swys and the DBCC are working tirelessly to create access to funding of minority firms using this new tool.

MyCaresAct is an intuitive onboarding platform that helps small businesses quickly apply for PPP loans that will help these businesses cover payroll expenses to keep their current employees. This application is also designed to pivot to a new process should the federal government seek a different program with new requirements for the next round of funding expected to come from Congress.

“Supporting business is part and parcel of our work at swys. Being a minority founder, I understand the challenges that these businesses face and am proud to team up with an organization such as the Dallas Black Chamber of Commerce, which works tirelessly to bolster businesses and close the opportunity gap in our community,” said swys CEO Joseph Akintolayo.

MyCaresAct is now live and ready for use at http://www.dallasblackchamber.org.

 

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