Workspace Messaging App Provides PPP Loan Calculator to Address SMB’s Concerns
Small and medium-sized businesses have been hit hard with required closures and stay-at-home restrictions in place across the country. While the government has responded by passing the CARES Act and implementing the Paycheck Protection Program (PPP), Coast, an all-in-one workplace messaging app, has seen the frustration and confusion of small businesses first-hand.
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In response, Coast has created the PPP Loan Forgiveness Calculator available to small business owners for free.
Access the PPP Loan Forgiveness Calculator — https://coastapp.com/ppp-forgiveness/
From small businesses to corporations to hospitals, companies have been employing the Coast app to triage crisis management and communicate with employees remotely. From the start, the Coast team has been fielding questions specifically regarding the CARES Act and Paycheck Protection Program. Rohit Prakash, co-Founder of Coast, saw an immediate need and knew the team had the design and engineer skills to create helpful resources for small businesses.
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“Two worlds converged on me at the same time. My mom, an immigrant, and the small business owner were struggling with understanding the PPP loan while handling the uncertainty surrounding her business and how to keep operating safely. At Coast, we were fielding questions on PPP loan from the many operators that rely on Coast and other initiatives our team had taken since COVID-19 shutdowns were in effect. Uncertainty plagued everyone around us, and we knew that through collaboration and a bit of technology, we could help provide a resource to enable people to make the best decisions for their businesses. At Coast, our mission is to help people focus on what they love. This was an easy choice for us to make,” said Prakash.
Prakash began discussing with Coast client, Candace Combs, founder and co-owner of In-Symmetry Spa, Combs Business Consulting, and President of the Mission Creek Merchants Association and Kayleigh Henson, principal at Dogpatch Financial the frustrations facing small business owners. Within weeks, they collaborated on a free website that would act as a loan calculator and FAQ resource page.
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