ATLANTA — The Small Business Development Center at the University of Georgia will offer free online seminars this coming week to update business owners on the $900 billion coronavirus relief package Congress just passed.
The Coronavirus Response and Relief Supplemental Appropriations Act includes $284 billion for a new round of small business loans through the Paycheck Protection Program. Within that appropriation is $15 billion targeted specifically for live performance venues, independent movie theaters and other cultural institutions that have experienced revenue declines of at least 25%.
The package also includes $20 billion in grants through the Economic Injury Disaster Loan program, which provides targeted aid of up to $10,000 per applicant based on the number of employees. The first COVID-19 relief legislation Congress passed last March also contained $20 billion, but those funds ran out in less than four months.
The one-hour seminars will take place Tuesday at 10 a.m. and Wednesday at 10 a.m. and 2 p.m. Also available on demand will be a session that was prerecorded on Dec. 23 and reflects the most up-to-date information available at the time of the recording.
Registration information can be found on the Small Business Development Center’s website at www.georgiasbdc.org.
One important caveat is that President Donald Trump has yet to sign the legislation. He has threatened to veto the bill because it doesn’t provide enough direct relief to Americans.
The legislation offers $600 stimulus checks to most Americans, while Trump is calling for $2,000.