SBA to Host Webinars on Small Business Emergency Loans and Paycheck Protection

The Small Business Administration (SBA) is partnering with local organizations to host a series of webinars designed to help small businesses learn more about financial relief options available.

The University of Georgia’s Small Business Development Center is hosting a series of webinars on April 6 – 7 to provide an overview of SBA COVID-19 relief programs, answer questions and offer support.

Ashley Bell, SBA southeast regional administrator, will be a special guest on tonight’s Telephone Town Hall on Coronavirus with Congressman David Scott. He’ll join South Fulton leaders and others from across the metro area tomorrow at noon for “The Path Forward: Small Business COVID-19 Crisis Virtual Town Hall.”

Terri Denison, SBA district director, will join the Atlanta Business League’s “Paycheck Protection Program Explained” webinar tomorrow at 3 p.m. The webinar is open to any small business owner. You do not have to be a member of ABL to attend. Space is limited.

The SBA’s financial relief programs are part of the CARES Act which attempts to make available hundreds of billions of dollars in an expedited manner to provide for small business owners across the country. The measure includes the Paycheck Protection Program, a $349 billion emergency loan program.

The program provides forgivable loans up to $10 million to small businesses left financially distressed by the Coronavirus (COVID-19) pandemic. The loans, which will be administered at the local level by a national network of banks and credit unions, are designed to maintain the viability of millions of small businesses struggling to meet payroll and day-to-day operating expenses.

Additional financial relief options include 7(a) Loan Payment Relief, the Economic Injury Disaster Loan and Emergency Economic Injury Disaster Loan Advance.

In addition to the webinars, additional information is available at www.SBA.gov/Coronavirus for small business owners seeking help to protect their business, employees and customers. Resources are also available on the UGA Small Business Development Center website.

Other Resources

Many other private and nonprofit organizations are also providing access to resources and support. SCORE, the nation’s largest network of volunteer business mentors, offers a resource page and will host webinars on April 9, 16 and 28 to help business owners navigate the coronavirus crisis.

Truist has donated $1 million to LiftFund. The fund offers grants to small business owners in several states, including Georgia.

eBay has launched “Up and Running,” an accelerator program specifically designed to help retailers without an e-commerce presence transition to selling online.

PayPal has also announced a set of relief measures. Customers can request to defer payment on business loans and cash advances at no additional cost. Chargeback and instant funds transfer fees are also being waived.

Photo: Terri Denison, district director of the Small Business Administration, addresses the South Fulton community at the grand opening of CollabSouth Red Oak.

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