BPM’s Edward Webb Featured in Bay Area Council COVID-19 Webinar
As part of the $2 trillion Federal Coronavirus Aid, Relief, and Economic Security (CARES) Act, $349 billion is available to many small business owners with less than 500 employees.
On April 7, the Bay Area Council assembled top specialists from its membership, including BPM Partner Edward Webb, to answer Bay Area Council members’ questions and help business owners file correctly to get the largest amount of relief.
The panel discussed two essential programs under the CARES Act targeted to help small businesses:
SBA Paycheck Protection Program – The PPP provides loans of up to $10 million to support small businesses and other eligible entities to pay workers, interest on mortgage obligations, rent, insurance, paid sick or medical leave, utilities, and payroll related costs incurred from Feb. 15, 2020 – June 30, 2020. Much of this loan is forgivable, and turns into a grant if employees are retained
SBA Economic Injury Disaster Loan Program – The EIDL Program provides small businesses and non-profits with low-interest loans of up to $2 million that can provide vital economic support to small businesses to help overcome the temporary loss of revenue they are experiencing due COVID-19.
Watch the Bay Area Council’s recent COVID-19 webinar, and head over to BPM’s COVID-19 Resource Center to find additional information to help you make the most informed business decisions in the future.
If you have any questions about the information covered in this webinar, please email Edward Webb.