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WEBINAR | CARES Act: What’s in it for Startups?
April 9, 2020 @ 10:00 am - 12:00 pmFree
We’re running this event as a LIVE webinar. We’ll email the link to all the registrants shortly before the event starts.
Any questions, please email email@example.com
The $2 trillion federal coronavirus relief package signed recently, officially known as the CARES Act, includes the nearly $350 Paycheck Protection Program to help small businesses affected by the Coronavirus Pandemic. The new loan program is designed to help small businesses with their payroll and other business operating expenses. The Small Business Administration (SBA) will forgive the portion of the loan proceeds that are used to cover the first eight weeks of payroll costs, rent, utilities, and mortgage interest.
The SBA and the Department of Treasury have released the information that will guide the programs. To help entrepreneurs better understand how can they benefit from the program, we created the webinar with speakers from the SBA, Cambridge Trust and the law firm Nutter to answer questions including:
- Who are eligible for a Paycheck Protection Program loan?
- How do businesses apply? What information is needed?
- How much money can a business receive through the loan program?
- When will the loans be available?
- What’s the interest rate?
- What does the payment schedule look like?
- How does the Affiliation Rules affect VC-backed startup’s eligibility?
- Can the loan eventually be forgiven? What’s the eligibility for loan forgiveness?
- What if the PPP Loan does not cover a business’s needs? What are the other options under the CARES Act?
SBA: Norman Eng
Public Affairs Specialist at U.S. Small Business Administration (SBA)
Lender: Scott Chamberlin
SVP, Head of Innovation Banking at Cambridge Trust
Lawyer: Joshua French
Partner at Nutter, McClennen & Fish LLP
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