Philadephia Tribune, April 24, 2020: Black Business Owners Hope to Get More Funding Through Paycheck Protection Program
Jude Arijaje was forced to close his two Minuteman Press franchises and lay off most of his 13 employees because of the coronavirus pandemic.
“It’s been devastating for businesses,” he said.
Arijaje applied for a PPP loan through Wells Fargo before funding ran out last week, but didn’t get one.
Arijaje has already submitted a second application through a CDFI, in hopes that his odds would be better.
“Everybody I know who was successful applied with one of the small banks,” he said.
Arijaje is gearing up to reinvent his printing business as he waits for funding to come through.
“When we open up, we are not going to come back the same, because people have changed, attitudes have changed and what people were buying has changed,” he said.
