(Black PR Wire) Washington, DC - The U.S. Black Chambers (USBC) joins forces with ESSENCE Magazine, one of the largest publications reaching African Americans. As part of ESSENCE's new series ESSENCE of the Matter: COVID-19’s Impact on Black America, USBC and ESSENCE will host a webinar focused on providing information on the Coronavirus Aid Relief and Economic Security (CARES) Act, Paycheck Protection Program (PPP). USBC's advocacy efforts greatly influenced the final legislation that was enacted under PPP, which included many of the USBC's recommendations focused on specifically help Black businesses:
- USBC ensured the needs of MWBEs were addressed
- In partnership with the Small Business Rountable (SBR), USBC led the efforts to increase the funding caps under the Economic Injury Disaster Loan (EIDL) program, providing increased funding to CDFI partners to leverage the tax code to support small businesses
- We advocated for nonprofit/tax exempt organizations to be included in any relief packages
PPP authorizes up to $350 billion in forgivable loans to small businesses with employees, as well as additional operational expenses.
PPP applications open Friday, April 3. For full details about PPP, including the application link, click here. Webinar Details:
- Who: USBC & ESSENCE
- What: A Webinar about the CARES Act
- When: Monday, April 6th, 1pm ET
Where: RSVP Link www.essence.com/cares-act
USBC will continue to update you with the latest COVID-19 resources. You can currently find helpful information on our website: usblackchambers.org/cares-act. Including:
- Links to the Payroll Protection Program (PPP) document as well access to critical stimulus funding and informational resources
- Links to apply for SBA Disaster Recovery Funding and to our banking partners, Wells Fargo and JP Morgan Chase (you must be a customer of these banks to access funding)
Additional resources including state programs will be updated on a regular basis.
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