In 2020, Access to Capital for Entrepreneurs (ACE) funded a total of $4.5M in Paycheck Protection Program (PPP) Loans and is on the way provide more than $10M in 2021 to Georgia’s small business owners. The average ACE PPP loan is $22,000, 57% have gone to women and 58% have gone to African American business owners. All the ACE & ACE Women’s Business Center (WBC) team worked diligently to help businesses owners and independent contractors!
Shortly after the pandemic started, Dr. Bella Hanono owner of Bella Hanono Family Dentistry contacted the Georgia Hispanic Chamber of Commerce requesting assistance for her business. The Chamber staff recommended she reach out to ACE WBC for more information about COVID-19 relief options available for small businesses through the U.S. Small Business Administration.
Dr. Hanono decided her best options were to apply for a PPP loan and an Economic Injury Disaster Loan (EIDL). All the information and requirements were discussed and sent to her for review. She applied for the EIDL loan through the SBA portal and when she decided to move forward with the PPP loan, she scheduled a meeting with a coach who assisted her with the application process and submission through ACE. ACE staff were also able to guide her through the forgiveness process. Early in 2021, when the 2nd Draw of the PPP was available, she contacted the WBC again. A coach assisted her through the second application submission and she was funded by ACE again.
“I reached out to ACE Women’s Business Center when my financial institution was not able to help me. Everyone was extremely helpful – explaining the options of the SBA relief funds, application process, answering questions and ensuring that the applications were submitted accurately to the SBA. I am very pleased with the service I received, and it was a wonderful experience. Thank you to ACE and the Women’s Business Center for helping my business during these unprecedented times for all of us. I am also extremely grateful to U. S. Small Business Administration for making the relief funds available to small business owners like me. Thanks to these funds, I was able to keep my workforce employed and continue operating during the COVID-19 crisis.” – Dr. Bella Hanono.
Dr. Bella Hanono