7/2/2023 0 Comments Blue acorn applicationI am most proud that we made a positive impact on so many entrepreneurs helping them to keep their doors open and take care of their families.” “The vital and strategic deployment of PPP funding helped traditionally unbanked and underserved communities, including racially and ethnically diverse small business owners that were initially left out. Our PPP loans serve as a great example of CPLC’s heart-meets-business philosophy,” said David Adame, Chicanos Por La Causa President & CEO. “In order to help meet the need and provide equitable emergency relief to small businesses and independent contractors, we understood early on that we needed to advocate, facilitate access and align our efforts with other partners to reach those that wouldn’t have received funding otherwise. Every one of these files is a family, and we are immensely proud of how many families we were able to support over these last few months.” “Previous rounds of the program saw the majority of funds distributed to larger businesses via traditional banks, overlooking gig workers and mom-and-pop shops who need this support the most. Learn more at mission is to help the backbone of the American economy - small businesses, independent contractors and the self-employed - gain access to the PPP funding they are eligible for and need during these challenging times,” Blueacorn CEO Barry Calhoun said. Learn more at .īlueacorn is a Lender Service Provider that helps simplify the application processes for grant and lending programs for small businesses, independent contractors, and the self-employed through the use of high-quality, proprietary lending software and fraud detection tools. Openforce is a portfolio company of Boston-based private equity firm Riverside Partners. Our cloud-based applications help businesses achieve more sustainable, profitable growth by removing financial, operational and compliance barriers to getting business done. Openforce frees contracting companies from the burden of onboarding, contracting, and settlement processing while helping contractors build their business. Openforce® is the leader in technology-driven services that reduce operating costs and mitigate compliance risk for companies using independent contractors. organizations keep their workforce employed during the COVID-19 crisis. The Paycheck Protection Program is a Small Business Administration-backed loan that helps U.S. Because of the challenging nature of the PPP loan requirements, Blueacorn strives to make the process easier for applicants to maximize their chances of securing a forgivable loan. We are very proud of this partnership and the impact we have made together.”īlueacorn is a Lender Service Provider that assists small business owners in compiling loan application paperwork. “We thought we could help some small businesses through this crisis, but $27 million in qualified loans well exceeded our expectations. Partnering with Blueacorn to help quickly and accurately facilitate PPP loans was an obvious solution,” said Wendy Greenland, CEO of Openforce. As a supporter of the independent contractor model, we needed a way to provide economic support to our clients. “When the pandemic hit, we knew most of our clients and their IC workforces would be significantly impacted. workers operating as independent contractors (Gallup), these loans assisted 2,809 ICs to stay afloat during the COVID-19 pandemic. PHOENIX, AZ – Aug– Openforce, the leading software technology platform for managing commercial relationships between contracting companies and their 1099 independent contractor (IC) workforce, today announced its partnership with Blueacorn which resulted in securing $27,357,768 in Paycheck Protection Program (PPP) Loans for its independent contractor customers and their small businesses.
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