Paycheck Protection Program targets minority and underserved businesses – Jan. 11 Webinar

The pandemic continues to wreak havoc on access to capital for many Kern County small businesses, but help is on the way with the new $284 billion Paycheck Protection Program opening to new businesses and nonprofits on Monday.

Guidance released this week by the U.S. Small Business Administration asks participating PPP lenders to ramp up efforts to assist eligible borrowers in minority, underserved, veteran, and women-owned businesses.

To help get the word out and educate local businesses, Kern County’s Black and Hispanic Chambers, Mid State Development Corporation, and the Small Business Development Center at CSU Bakersfield will join together to present a free webinar on government pandemic relief programs.

“New PPP forgivable loans and grants for small businesses” will be online Monday, Jan.11 from 3 p.m. to 4 p.m.

The panel driven webinar will focus on reopening of the PPP forgivable loan program. Businesses filing for the first time, as well as those in hard-hit industries, can now apply for a second PPP grant that is forgivable when certain requirements are met.

Other topics include California’s $500 million COVID-19 Relief Grant that provides up to $25,000 to qualified businesses and closes Jan. 13, as well as the Economic Injury Disaster Loan (EIDL) program that allows small businesses up to a $10,000 grant.

Questions from attendees will be taken. Register online at www.tinyurl.com/yxzhy5xr to attend.