SBA WEBINAR - PPP Forgiveness & New Information on Funds & Grants
Hosted by the North of Boston Convention & Visitor's Bureaus and the Greater Beverly Chamber of Commerce
Dan Martiniello, Lender Relations Specialist, US Small Business Association (SBA) for an informative webinar which will cover PPP forgiveness and new information on funds and grants.
This is a free webinar, and registration is required. Zoom information will be sent to all who register.
The Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act
This $325 billion title would provide additional assistance to the hardest-hit small businesses, nonprofits, and venues that are struggling to recover from the impact of the COVID-19 pandemic. The title would provide funding for a second round of forgivable loans through the Paycheck Protection Program for small businesses and nonprofits experiencing significant revenue losses, make programmatic improvements to PPP, fund grants to shuttered venues, and enact emergency enhancements to other SBA lending programs. This critical assistance will provide small business owners with the capital they need to survive the pandemic and includes critical resources for the smallest businesses.
Increased Appropriations: $325 billion
$284.45 billion for Paycheck Protection Program Second Draw Loans.
$25 million for Minority Business Development Centers under the Minority Business Development Agency (MBDA) to assist minority business enterprises with technical assistance, such as applying for PPP.
$50 million to SBA for PPP auditing and fraud mitigation purposes.
$15 billion for grants for shuttered live venues, theaters, museums, and zoos.
$20 billion for the EIDL Advance program, of which $20 million is for the SBA Inspector General.
$3.5 billion for continuing the Section 7(a) Debt Relief program.
$2 billion to carry out SBA lending enhancements.
Of this amount, $57 million for the Microloan program for technical assistance and direct lending to underserved borrowers.