Peek Partners With Womply to Streamline Access to Paycheck Protection Program Funds for Small Businesses

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• 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

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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.

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About the Partnership

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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.

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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.”

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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.

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About the Paycheck Protection Program

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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.

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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.

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“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.”

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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 support@womply.com or 855-929-9111 - or get in touch with Peek's support team at 415-361-5564.

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About Peek

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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.

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About Womply

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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 info@womply.com.

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We’re all going through some tough times now. Closed borders, quarantines & self-isolations, and lost jobs are sadly the new normal (for now, not forever!). In the tourism industry, you’re going through that on your own, plus the added stress of knowing that you need things to get better for everyone else before you can expect to see an improvement in your own life and business.

There’s no way to sugarcoat it. Things are bad.

So what do we do now? Well, we get through it. We always do. This too shall pass, and when it does you need to be prepared. The businesses that are taking time to regroup and prepare are the businesses that will succeed. Take a cue from Lost: give yourself to the count of five to completely break down and feel sorry for yourself (count slowly). When you get to five, time’s up. It’s time to focus on what you do have control over and get things done.

These are unprecedented and unpredictable times. No one is really sure of what will ensure success when this is all over. It won’t hurt to try these things though.

Work on your marketing (international)

There have always been aspirational travelers out there. Those people who look at photos of the places that they want to go and think to themselves “someday…”. Coronavirus was a huge wake-up call to a lot of people that “someday” may never come. If your tour business is located in one of those ever-popular destinations (e.g. Rome), or even if you’re in a lesser-known-but-still-amazing place, use this time to reach those people.

Share videos on your social media. Start a YouTube channel talking about what you cover on your walking tours. Write blogs about the architecture in your area. Share interesting articles or videos about the history of your area. Get people excited about where you are!

When we’re all out of quarantine and able to travel again, those “someday…” people will be at the front of the line. We all know (all too well, unfortunately) that anything can happen and tomorrow isn’t promised. Market to them now, using a very soft-sell approach that gains trust and builds relationships, and it’ll pay off when things open back up.

Work on your marketing (domestic/local)

We’re going to come out of this slowly. While people will be itching to do their bucket list trips, the sad reality is that those trips will be unattainable for a long time. Local travel and attractions are going to be the first to bounce back.

Use this time to court locals. Prepare school outreach and talk about how great your local tours or activity centers are for field trips. Post interesting local history facts to Facebook groups in your city and get people interested in their own area. Make videos of your escape rooms and get people guessing and working out solutions from their own home that they’ll want to try out later.

Update everything

We always say that we don’t have time to do a lot of administrative tasks. Now we do. If you do those things now, you’ll have the perfect business when things pick back up. Or at least your version of the perfect business.

There are the obvious behind the scenes tasks that you can do. Check your budgets, make sure that you’re spending money wisely. Revise any guide manuals that you have. Get all of that done so that things can run smoothly when we return to normality.

More visible updates you can do include: updating your photos. You should have a lot of photos available. Make a schedule to get new ones posted to your social media and think about if you want to change them on your website. Same thing with text on your website. Are there any pages that weren’t performing well? Compare the text there to content on the pages that work and make adjustments. If you get your website optimized for sales now, you’ll see the benefit when travel starts back up.

It can be hard to spend money now, but if you have some capital and you’re looking to get the best bang for your buck, it’s hard to beat a new website. Tourism Tiger websites are designed to sell tours and we’d be happy to look at yours and offer suggestions or to show you how a new build can help.

Reach out to former guests

Your guests were happy to spend their vacation time with you. They like you and want you to succeed. They also know that everyone is struggling right now and that every little bit helps. Don’t be afraid to ask them for help!

Former customers can do a lot for you right now. Reach out to them and ask them to review your business if they haven’t already. Get them to follow you on social media (maybe even ask them to share a post or two). Ask them to send you their photos (or post them so you can share). Use their content to show how happy guests are with you.

We can get through this together. Hugs to you all.

Who is Stephanie Fiero?

Stephanie Fiero is originally from Michigan, USA. She currently works as the Marketing Manager for Tourism Tiger, a web design company specializing in tour and activity operators. Stephanie has lived on four continents in her continuing pursuit of learning a useful second language. Her favorite vacation was Myanmar in 2016 and her favorite tour was Chernobyl in 2013.

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As you may know, the government is offering forgivable loans of up to $10m per business entity under the Paycheck Protection Program (PPP).

But did you know that you need a private lender to access these loans and that they will be processed on a first come, first serve basis? Every Small Business Administration (SBA) lender has to give you the same terms, and most banks will start lending in the coming days.

To make this process as easy as possible, we’ve teamed up with our friends at Womply, an agent of federally approved SBA lenders. They can help you start your application right now and fast track your Paycheck Protection Loan.

Analysts expect demand for these loans to be over one trillion dollars, but with only $350 billion currently allocated for this program, time is of the essence and if you are eligible you should apply immediately.

More information below:

Who is Womply?

Womply is a SaaS company that serves over 450 thousand small businesses. They’re now working hard to connect businesses to SBA-approved lenders amid COVID-19, and have allocated over a hundred agents ready to help you navigate this process.

Is there a cost to apply for these loans through Womply?

It’s completely free to apply. Their aim is simply to help you find a lender faster.

What is the Paycheck Protection Program?

This program falls under the CARES Act recently passed by the Senate, providing forgivable emergency loans to small businesses. The program is designed for “Paycheck Protection” so that businesses can keep and/or rehire employees (if you’ve already reduced staff or wages, you’ll have until June 30 to reverse those changes to be eligible for loan forgiveness). If you spend your loan on payroll, rent, mortgage interest, or utilities during the first 8 weeks, the government will forgive your loan so you don’t have to pay it back. More info here.

Why is applying through Womply beneficial for me?

Most banks will start lending in the coming days, and demand is likely to be extremely high. Approval could take weeks, even after finding an approved lender to assist you. Womply’s dedicated agents can help connect you with a lender as quickly as possible and thus fast track your application.

Do I need to be a Peek partner to benefit from this partnership?

No! Our aim is to help all operators access a PPP loan faster so they can get the help they need. We’re all in this together.

How do I apply?

You can apply using this link.

Other useful links:

Womply Loan FAQsRequired Document Checklist

If you need assistance, feel free to reach out to the Peek team at 855-733-5776 - we will be happy to assist you. You can also reach out to the Womply team to check on the status of your application by reaching out to support@womply.com or calling 855-929-9111.

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This is a devastating time for small businesses, especially in the travel industry. But consumers are already stepping in to support their local economies.

Follow these steps to make sure your community has the resources it needs to support your business!

We have included some email templates and social media posts (found at the bottom of this post) to help you get these campaigns up and running, without you having to start from scratch.

Don’t forget to customize where possible to make sure your communications look and sound like your brand.

1. Provide an alternative to refunds

The spread of coronavirus is forcing people to cancel their activities and trips - but this doesn’t mean they have to be refunded!

Offer your customers the option to reschedule their activities or receive store credit in place of a refund!

Make sure your customers know that this is the best outcome for everyone.

• Have you included the option to reschedule?
• Allow your customers to reschedule as many times as they’d like, to give them the confidence they need to book.
• Highlight the following to your customers, when asking them to reschedule:
• Your reservation will remain open indefinitely.
• You'll be able to reschedule your reservation for another date, no matter when and no extra charges.
• Your reservation will be fully transferable.

• Do you offer your customers store credit as an alternative to refunds?
• Store credit works like a gift card - instead of refunding customers, you can give them a code to use the money they spent on your products another time.

• Have you made this clear on your website?
• Make sure your customers are aware of your rescheduling and store credit policies. This will give them the confidence they need to book and keep your cash-flow flowing.
• If you have a “Contact Us” page, reiterate this message there, and consider using a Google Form so that customers can automatically reschedule/opt for store credit without having to call.
• You could also record a message with these options to play on your phone lines before customers connect to you, which may help ease your call volume.

• Have you reached out to customers with future bookings?
• Use the email template below if you need help with messaging
• Social media is a great way to drum up support! Use the social media posts below (or create your own) to broadcast the message and encourage customers to reschedule, or accept store credit.

2. Offer Gift Cards

A great way for customers to keep small businesses going is to buy gift cards to use in the future.

If you don’t have gift cards set up on your website - time to do so! Once you’re done, answer these questions to make sure you have gift cards that are easily accessible and your customers are reminded of this clever way to support you.

• Have you explained to your guests how buying a gift card will support your business?
• Make it clear to guests how they’re helping - explain how coronavirus is affecting your business, or even how these funds might be used right now.
• Include this message on your website, near your gift card widget and within your booking flow.
• Promote this message through social media.

• Have you emailed out your gift card button?
• Use the template below to show customers how they can support you by buying gift cards and where to find them.
• Include a button to your gift card widget, so customers can buy a gift card as soon as they read your email.

• Are you promoting your gift cards?
• Add a gift card button to your homepage above the fold, to easily direct customers to this option.
• Make it clear on all of your social media channels that you sell gift cards and that they’re a great way to support small businesses!
• Use your pre-recorded telephone message to upsell your gift cards and explain how they are helping your business.

• Have you made your gift cards appealing?
• Don’t include an expiry date on your gift cards.
• Be flexible - allow the name on the gift card to be changed if necessary.
• Sweeten the deal: consider including an add-on to the experience if a gift card is used, such as; a complimentary glass of champagne, use of a GoPro or a free photoshoot.

3. Boost your reviews

Reviews are the most powerful content for tour operators - Did you know that 72% of customers won’t book until they’ve read a review?

With the world sitting at home, looking for things to do, it’s the perfect time to engage your past customers and give your reviews some love.

Check off this list to make the most of your reviews and ensure you will be in fighting shape for when the crowds resume.

• Have you emailed all your past customers for a review?
• Use the template below to request a review from everyone who previously participated in one of your experiences.

• Have you ramped up your social media?
• Make the most of this content by turning your best reviews into social media campaigns.
• Share the incredible experiences your customers have had so you’re in the forefront of everyone's mind when booking is back to business as usual.

• Have you put a Reviews Widget on your website?
• A reviews widget promotes trust in your brand, increases time spent on your website and drives conversions!

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We have created these email templates to help you kick start these campaigns:

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Rescheduling and Refunds Email Template

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Dear adventurer,

I hope this email finds you and your loved ones safe and healthy. As the spread of the Coronavirus leads to uncertain times for people around the world, our hearts go out to those who have been impacted.

As always, our number one priority is you, and we stand by any decision you make for your health. We fully understand concerns you may have during this time, and are aware that many of your travel plans will have to change.

As they do, we’d like to strongly encourage you to reschedule your visit rather than cancel, so that you can still enjoy the incredible experience you booked at a later date.

This is a tough time for the tourism industry, and by rescheduling your booking you are offering much-needed support to a local business - as well as giving yourself an adventure to look forward to!

If, however, rescheduling just does not work for you and you still wish to cancel, then we are happy to offer [insert specific refund/cancellation policy]

We can get through this together, and on behalf of the [Operator Name] team, we wish you and your loved ones safety, health, and happiness even in the most difficult of times.

Best wishes,

[Operator Name]

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Gift Card Promotion Email Template

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Hi adventurer,

Today’s world has been hectic with developments in COVID-19, yet as we face new challenges, we find that no matter how difficult the path forward may be, there is strength in community.

The support we give to one another, especially when times seem bleak, is invaluable, now and always. In light of this, we want to take a moment to applaud the many who are supporting small businesses in their communities.

An easy way to do that in your city is by buying gift cards. Whether you buy a gift card for an incredible adventure once this period has passed, gift a fun activity to a loved one to use later on, or even surprise a friend with a gift card to their favorite restaurant, you will be creating something special to look forward to and giving some much-needed help to a local business all the while.

Although you can’t go wrong with any efforts to #supportlocal, we humbly ask you to consider gifting one of our many amazing activities.

You can browse through our activities here and click the large “Gift Card” button on our homepage for an easy checkout.

Thank you for your kind consideration and, on behalf of [Tour Operator], we wish you and your loved ones all the best for your health and happiness.

Thank you,

[Tour Operator]

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Review Campaign Email Template

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Dear adventurer,

As concerns about the Coronavirus are growing in volume, we hope this email finds you and your loved ones safe and healthy.

In these challenging times, we have immense gratitude for guests like you, whom we have gotten to share some incredible experiences with.

As we continue a difficult journey forward together, anything we can do to support each other makes a huge difference.

That’s why we’re asking, if you haven’t done so already, for you to write a quick review about your past experience with us. Taking even five minutes to do this will make a huge difference for us, and help showcase our experiences even better when all of this is over.

Thanks in advance for your consideration. Regardless of how dark these times might seem, we know there is always a light at the end of the tunnel, and community support only helps that light shine brighter.

Wishing you and your loved ones safety, health, and happiness now and always,

[Operator Name]

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Use these Instagram posts to share how your community can help small businesses:

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[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section]

As you may be aware, the recent CARES Act passed by the government features a variety of initiatives intended to help Americans through the social and financial effects of COVID-19.

In addition to the SBA Disaster Loans already available, part of this new bill is designed to help small businesses and those who are self-employed weather the storm of COVID-19. $367bn will be designated to loans for small businesses, and many tour and activity operators may be eligible to apply for assistance. A key part of this initiative is the Paycheck Protection Program.

We’ve compiled some of the key information below on what the program is and how to apply, as well as some links you may find useful. We’ll continue to update this page with any new information we find.

What is the Paycheck Protection Program (PPP)?

This program is designed to provide small businesses and employees with relief during this period of economic uncertainty. The main function is to enable businesses to retain their employees as well as cover other business costs.

It can be used for payroll, rent, utilities and more. It will be administered by the SBA (Small Business Administration) under its 7(a) lending program, via approved lenders.

How do I know if I’m eligible?

The program has the following eligibility requirements:

• You must be a small business (comprised of 500 employees or less), an independent contractor, or self-employed
• You must have been operational as of 15th February 2020
• Venture-backed companies where VCs own more than 20% of the business currently do not qualify

What are the terms?

• The legislation allows for loans up to $10 million
• The amount will be up to 250% of your average monthly “payroll costs” (see below) based on the previous year
• PLUS any refinanced SBA economic injury disaster loan obtained after Jan. 31, 2020
• There is a special rule to compute the average monthly payroll costs for seasonal businesses
• Interest rates will not exceed 4%
• Payments may be deferred for at least 6 months if necessary
• No collateral or personal guarantee is required to apply

The loan should be used to cover any or all of the following:

• Payroll costs:
• Salaries, wages, and vacation
• Employee commissions and tips
• Parental, family, medical, or sick leave
• Severance
• Retirement benefits
• Costs related to group health care benefits (i.e., insurance premiums)
• State or local taxes assessed on compensation
• Interest on mortgage obligations
• Rent, including rent under a lease
• Utilities
• Interest on other debt, incurred prior to obtaining the loan

Note: PPP loan funds cannot be used to pay salaries over $100,000.

Do I have to repay all of the loan?

• Anything spent during the 8 weeks from the date of the loan may be forgiven, i.e. won’t need to be repaid, if funds are used to cover payroll costs, interest payments on mortgages (not including principal and prepayments), rent and utilities
• You can use the loan for business purposes other than the above (e.g. inventory), but this part won’t be forgiven
• To get the full benefit of loan forgiveness, you must keep your employees and pay them at least 75% percent of their prior-year compensation
• If a business reduces the number of employees, or reduces salaries, the SBA can reduce the forgiveness by the same percentage
• If you’ve already laid off staff or reduced salaries below 75%, as long as you reverse these changes by June 30th then your loan can still be forgiven for this 8-week period

Can I still apply if I’ve already applied for an SBA Disaster Loan?

If you’ve been accepted to receive an SBA Disaster Loan that you applied for on or after January 31st, you won’t be able to apply for a PPP loan to use for the same intended purpose.

However, you will be able to refinance an SBA disaster loan into a PPP loan if you need to. You can do this as soon as the new loans are made available.

How do I apply?

Currently the only loan that you can apply for directly with the SBA is the Disaster Loan. To apply for a PPP loan, you can apply through any SBA-approved lender. This tool on the SBA website can help match you with an appropriate lender in your area. You can also call your local Small Business Development Center or Women’s Business Center and they will provide free assistance and guide you to lenders.

It’s a good idea to reach out to these lenders now, even just to touch base, as things develop and the program is rolled out.

Useful links:

SBA Website

SBA Lender Match Tool

FAQs from US Senate Committee on Small Business and Entrepreneurship

Forbes article - a CPA's perspective on the paycheck protection program

Skift - What the $2 trillion U.S. stimulus package means for travel businesses

You may have heard that the SBA (U.S. Small Business Administration) is offering low-interest federal disaster loans to businesses impacted by COVID-19. A total of $50bn will be made available - $8.3bn of that funding has already been approved and while the remaining $42bn+ is still pending approval from Congress, that is likely to happen in the coming weeks. Many small businesses in the U.S. travel industry may qualify for assistance. There's a lot of information out there, and it can be tough to digest, so here's an up-to-date breakdown of how to find out if you're eligible, how to apply, and other useful links and details.

How do I find out if my state/territory is eligible for SBA Disaster Loan assistance?

[UPDATE]: All 50 states plus inhabited territories of the U.S. (American Samoa, Guam, Nothern Mariana Islands, Puerto Rico, U.S. Virgin Islands) are now eligible to apply for SBA disaster loans.

What are the terms of these loans?

Size / purpose: The SBA’s Economic Injury Disaster Loans offer up to $2 million in assistance. This may be used to pay fixed debts, payroll, accounts payable and other bills that can’t be paid because of the disaster’s impact. Interest rate: 3.75% for small businesses.Term: Long-term repayments are likely in order to keep payments affordable, up to a maximum of 30 years. Terms are determined on a case-by-case basis, based upon each borrower’s ability to repay.

I think I’m eligible - how do I apply?

You can apply for an SBA loan online at this link. You’ll need to have the following documentation in order to apply:

• Business Loan Application (SBA Form 5)
• IRS Form 4506-T
• Complete copies of your company’s most recent Federal income tax returns
• Personal Financial Statement (SBA Form 413)
• Schedule of Liabilities (SBA Form 2022)

After you apply, your credit will be reviewed and an SBA verifier will estimate the total physical loss to your business. A decision should be made within 2-3 weeks.Note: This may take longer than usual given the substantial increase in demand from the COVID-19 pandemic. This simple PDF goes into the step-by-step process in more detail, along with other documentation you may need. You can also get in touch with the SBA through the following channels:Phone: 1-800-659-2955Email:disastercustomerservice@sba.govHere at Peek we’ll provide periodic updates on which states/territories are eligible for COVID-19 SBA loans. To find more useful resources for tour operators regarding COVID-19, you can visit our resources page here - it includes best practices, advice from industry experts and ways to stay connected with the community. If you need any support, don’t hesitate to reach out to our Partner Support team. We’re here for you 24/7. The Team at PeekNote: Please remember that Peek is not a certified financial advisor, and we cannot offer financial advice for you and your business. Our goal is simply to share information that is already out there in an easy-to-digest way so that you have all the tools you need to make important decisions for your business.