Peek Partners With Womply to Streamline Access to Paycheck Protection Program Funds for Small Businesses
- Millions of American small businesses are at imminent risk of collapse
- The $349 billion federal stimulus program is a crucial first step to stabilize at-risk businesses
- Peek has partnered with Womply to expedite the complexities of the PPP application and pre-approval document collection processes, and to secure a place in line with an SBA 7(a) approved lender
April 9th, 2020 – Peek, a double-sided marketplace to discover and book unforgettable experiences, is announcing a partnership with Womply, a software and API company serving small businesses and app developers. The alliance provides tour and activity operators streamlined access to forgivable emergency loans through the federal Paycheck Protection Program.
About the Partnership
As a registered loan agent, Womply is working with banks and financial institutions approved by the U.S. Small Business Administration to streamline the complicated process. Womply has built a robust process and support system to help small businesses get a jumpstart on their PPP loan application, collect required documentation, and save their place in line with SBA-approved lenders.
“At this time, our main priority as a company is to help tour operators across the industry access the tools and capital they need to weather this unprecedented storm,” says Oskar Bruening, CTO and Co-Founder of Peek. “That’s why this partnership with Womply is great news for our partners. Womply has an amazing team that’s dedicated to helping small businesses access PPP loans as fast as possible, and any way Peek can help quickly connect our operators to this much-needed capital is a top priority.”
Peek has been focusing its efforts on helping tour operators navigate these difficult times by assisting with SBA loan applications, hosting workshops, providing marketing materials and compiling useful information from across the tourism industry into a COVID-19 Resource Hub; as well as creating a dedicated team to help operators deal with an unprecedented amount of cancellations and refunds.
Together, Peek and Womply have over 100 representatives dedicated to helping millions of SMB merchants navigate the application process over the coming days.
About the Paycheck Protection Program
In late March, the federal government approved $349 billion in emergency funding for small businesses through the PPP provision of the $2 trillion CARES Act for economic relief from the COVID-19 outbreak. The program enables private lenders, approved by the SBA, to facilitate these forgivable loans to small businesses.
Small businesses have faced outsized financial challenges as the COVID-19 pandemic has brought the U.S. economy to an unprecedented slowdown. According to Womply analysis, small business revenue has seen a steep and sustained decline since COVID-19 pressures came to a head in the U.S. in mid-March, with potentially millions of businesses effectively shutting down as transaction volume completely dries up amid stay-at-home orders to flatten the coronavirus curve.
“We’ve never seen an economic situation like this before, and small businesses that make up half of the U.S. economy are exposed more than any other sector of the economy,” says Womply Founder and CEO Toby Scammell. “The PPP loan initiative is a vital first step to stabilizing these businesses, and our goal is to make the process as fast, efficient, and effective as possible. We are not a lender, but we can connect small businesses to lenders faster than anyone. Time is of the essence for millions of businesses at imminent risk of closing their doors.”
Tour operators can find more info here and start their application right away. In partnership with Peek, Womply’s dedicated support team is standing by to help. Operators can contact the Womply team at [email protected] or 855-929-9111 – or get in touch with Peek’s support team at 415-361-5564.
Peek’s mission is to connect the world through experiences. Peek is a two-sided marketplace: It helps consumers book the best experiences, while also empowering tour operators to automate their businesses and grow their revenues by an average of 30 percent. More than 110 million activities lasting over 1.4 billion hours have been booked on the Peek platform, and the company has won several awards for innovation, including the Tribeca Disruptive Innovation Award alongside Airbnb and Rent the Runway, and Fast Company’s Most Innovative Companies in Travel Award.
Womply’s mission is to help small businesses thrive in a digital world. Founded in 2011, Womply is the leading provider of data and software to local businesses and the top software partner to the payments industry. Our AI-powered data platform powers our CRM and marketing software, which serves more than 450,000 small businesses in every corner of America. In addition, Womply’s data platform helps innovative developers create more powerful software for businesses and consumers alike. To learn more, visit www.womply.com or email [email protected].