The White House and Congress have reached an interim Phase 3.5 coronavirus funding deal that amends the CARES Act and replenishes the small business rescue program known as the Paycheck Protection Program (PPP).
The $484 billion bill injects the program, which provides loans to small businesses, with more than $320 billion. Of this amount, $60 billion is set aside for community-based lenders, smaller banks and credit unions to assist smaller businesses that do not have established relationships with larger banks and had a harder time accessing the funds in the first round of loans.
The Small Business Administration of South Florida District Office continues to host a series of free webinars to provide the latest information on how the SBA is helping small businesses with their economic recovery from the effects of COVID-19. These webinars are limited to the first 250 callers and early connection is recommended. The next date for SBA webinars is as follows:
Friday, April 24, 2020, 1 PM – 3 PM
Dial-in: 202-765-1264; Code – 756013619
For more dates and times, please visit: www.sba.gov/southflorida
For additional information, contact Gigi Chazu, Economic Development Coordinator, City of Deerfield Beach, at 954-395-6051 or firstname.lastname@example.org.