Blue Ridge Bank and SK2 Capital Launch EasyPPPzy™ Online Platform for Self-employed Workers to Receive Forgivable PPP Loans

Rhea-AI Summary

Blue Ridge Bank, N.A., a subsidiary of Blue Ridge Bankshares (NYSE American: BRBS), announces an extended partnership with SK2 Capital Inc. to launch the EasyPPPzy™ online platform, facilitating access to forgivable PPP loans for freelancers and gig economy workers. The platform allows applicants to complete the process online in under five minutes, addressing significant barriers to COVID-19 relief funds. Blue Ridge Bank has previously partnered with SK2 Capital since March 2020, helping hundreds of small businesses secure funding. This initiative aims to assist more borrowers, particularly those facing challenges in accessing PPP funds.

Positive

• Launch of EasyPPPzy™ platform to streamline PPP loan applications for gig economy workers.
• Expansion of the partnership with SK2 Capital to enhance access to PPP funding.
• Successful history of assisting hundreds of small businesses since the partnership began.

Negative

• None.

Blue Ridge Bank, N.A. (“Blue Ridge Bank”), the national bank subsidiary of Blue Ridge Bankshares, Inc. (NYSE American: BRBS), announced today their continued partnership with SK2 Capital Inc. on the launch of its EasyPPPzy™ online platform following the news that the Small Business Administration’s Payment Protection Program (“PPP”) loan application deadline has been extended to May 31^st. The EasyPPPzy™ platform is a digital PPP application portal built from the ground up to assist with applying for and distributing forgivable PPP loans to self-employed professionals and independent contractors.

Gig economy workers, freelancers, drivers, and contractors can now complete their PPP application 100% online with SK2 Capital’s EasyPPPzy™ online platform, backed by Blue Ridge Bank as the exclusive lender. All self-employed individuals, whether they are gig economy workers, sole owners or contractors, can apply for PPP funding in as few as five minutes on www.easypppzy.com.

“Self-employed professionals, including freelancers and gig economy workers, are a crucial part of our economy and we realized early on that they were facing substantial barriers to accessing COVID-19 relief funds,” said Roger Saad, CEO and Founder of SK2 Capital. “We endeavoured to change that by using technology to make it easier for eligible people to access and apply for a PPP loan online. Our new platform allows us to offer our services for free to all, regardless of how small their loans may be.”

Blue Ridge Bank and SK2 Capital first partnered in March 2020 when PPP was announced as part of the Coronavirus Aid, Relief, and Economic Security Act (CARES Act). Blue Ridge Bank was the exclusive funding partner for all SK2 Capital’s clients who were eligible to receive PPP funding. The partnership has since expanded into the online offering known as EasyPPPzy™ .

“We’re excited SK2 Capital has chosen to extend its partnership with Blue Ridge Bank,” said Michael Knotts, Senior Vice President of Government Guaranteed Lending and Business Development at Blue Ridge Bank. “Our shared commitment to supporting Main Street resulted in hundreds of small businesses across America gaining access to critical funding. We look forward to continuing our work together to reach even more borrowers to access this crucial funding, particularly the long tail of small businesses that have had the most difficulty to date in accessing PPP funds.”

The EasyPPPzy™ platform is built to streamline, simplify, and assist all eligible self-employed individuals obtain a PPP loan through an intuitive online platform. It is powered by The NoCheck Group LLC’s award-winning financial services platform to ensure the security and privacy of all applicants’ private financial information. The platform has already assisted customers with loans approved under the Small Business Administration’s new rule changes announced March 5^th.

About Blue Ridge Bank

Blue Ridge Bank, N.A., is the wholly owned banking subsidiary of Blue Ridge Bankshares, Inc. Through its subsidiaries and affiliates, Blue Ridge Bank provides a wide range of financial services including retail and commercial banking, payroll, insurance, card payments, wholesale and retail mortgage lending, and government-guaranteed lending. The bank provides commercial banking services to customers located throughout Virginia and North Carolina. Visit mybrb.com to learn more.

About SK2 Capital Inc.

SK2 Capital Inc. (www.sk2capital.com) is a financial services and fintech company on a mission to help underserved SMEs obtain access to financial resources and services through dedication and innovation. Our purpose during these turbulent and uncertain financial times is to help as many small businesses and self-employed professionals as possible get access to the financial services and advice they need in order to help their businesses survive and grow.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210331005833/en/

FAQ

What is the EasyPPPzy™ platform launched by Blue Ridge Bank and SK2 Capital?

The EasyPPPzy™ platform is an online portal that helps self-employed individuals and freelancers apply for forgivable PPP loans quickly and efficiently.

How does the EasyPPPzy™ platform help gig economy workers?

It enables gig economy workers to complete their PPP applications online in as little as five minutes, overcoming barriers to access COVID-19 relief funds.

Who is the exclusive lender for the EasyPPPzy™ platform?

Blue Ridge Bank is the exclusive lender for the EasyPPPzy™ platform, which is operated in partnership with SK2 Capital.

When was the partnership between Blue Ridge Bank and SK2 Capital first established?

The partnership began in March 2020 when the PPP program was announced under the CARES Act.

What is the significance of the extension of the partnership between Blue Ridge Bank and SK2 Capital?

The extension of the partnership allows them to support more small businesses in accessing crucial PPP funds, particularly those facing challenges.