HOW TO MAKE SENSE OF THE COVID-19 PAYROLL PROTECTION PROGRAM & ECONOMIC INJURY DISASTER LOAN EMERGENCY ADVANCE
Are you a small business and have questions about accessing resources such as PPP and the disaster loans? Join the Urban League of Middle Tennessee and special guests for a virtual town hall meeting for Small Businesses.
Time and Location
Apr 27, 2020, 3:00 PM – 4:00 PM
Zoom Virtual & Audio Call
About the Program
COVID-19 HELP: HOW TO MAKE SENSE OF THE COVID-19 PAYROLL PROTECTION PROGRAM & ECONOMIC INJURY DISASTER LOAN EMERGENCY ADVANCE
Monday, April 27, 2020 3:00PM - 4:00PM CST
Join Zoom Meeting
https://us02web.zoom.us/j/85258534090?pwd=d3lERkFid2pyU0RaRjNzNFRNeHd5QT09
Meeting ID: 852 5853 4090
Password: 004057
Dial-In
312 626 6799
346 248 7799
Meeting ID: 852 5853 4090
Password: 004057
The first PPP round closed within 10 days. Make sure you are prepared and get connected!
The $2 trillion federal coronavirus relief package signed recently, officially known as the CARES Act, includes the nearly $350 billion Paycheck Protection Program to help small businesses affected by the Coronavirus Pandemic. The new loan program is designed to help small businesses with their payroll and other business operating expenses. The SBA will forgive the portion of the loan proceeds that are used to cover the first eight weeks of payroll costs, rent, utilities, and mortgage interest.
This will be the second round of funding for the Paycheck Protection Program and we want to ensure that women and minority owned businesses have the tools to secure the funding.
TOPICS COVERED:
Who are eligible for a Paycheck Protection Program loan?
Who are eligible for an Economic Injury Disaster Loan Emergency Advance?
How do businesses apply? What information is needed?
How much money can a business receive through the loan program?
What’s the interest rate?
What does the payment schedule look like? Can the loan eventually be forgiven? What's the eligibility for loan forgiveness?
What if the PPP Loan does not cover a business’s needs? What are the other options under the CARES Act?
By the end of the call, you should have a general idea as to whether anything else is needed to submit your application and supporting documentation to a community lender.