The Greater Pontiac Chamber of Commerce sponsored a Comcast webinar to discuss small business loans to help local businesses survive the COVID-19 pandemic. More webinars are being planned.
Titled “The Government is Leaning into Business Relief,” the first webinar was held on April 14.
“On April 3, The U.S. Small Business Administration launched the $349 billion Paycheck Protection Program (PPP), a business loan program enacted under the Coronavirus Aid, Relief and Economic Security (CARES) Act,” the Chamber’s Facebook page reported. “Designed to serve small businesses with 500 or fewer employees, along with the self-employed, sole proprietors, and freelance and gig workers, the PPP is meant to provide immediate relief to small businesses through low-interest loans for payroll and overhead expenses, with the possibility of loan forgiveness.”
The Chamber plans to help stage other CARES Act programs to support American businesses in the coming weeks, the notice added.
The April 14 webinar featured information on PPP eligibility requirements, considerations for whether PPP is right for your business and a discussion of other government programs, designed to help keep businesses up and running during the shutdowns caused by the pandemic.
Panelists at the initial session included Jai Massari, a partner with Davis Polk & Wardwell LLP, an advisor on major global banks, asset managers and corporations on the requirements, impacts and implementation of financial regulations. Also appearing was John Banes, a partner with Davis Polk & Wardwell LLP, advising on financial institutions, regulatory and related transactional issues, including resolution planning, regulatory capital and requirements.
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