Local demand high for new, different round of PPP loans [The Bakersfield Californian]
Jan. 10 Local small businesses are about to line up again for federal dollars to help them through the pandemic, and this time the emphasis is on companies that missed out before and those classified as disadvantaged, as well as micro-businesses, membership-based nonprofits and hospitality-type enterprises such as restaurants.
Monday’s kickoff of phase three of the U.S. Small Business Administration’s Paycheck Protection Program will accept loan applications from qualified businesses and nonprofits providing they didn’t get a PPP loan last year and their paperwork is filed through a community development financial institution. These are private banks usually catering to poor or underserved communities including minorities, women and veterans.
Even with latest federal stimulus, experts say more is needed to keep local businesses afloat bakersfield.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bakersfield.com Daily Mail and Mail on Sunday newspapers.
FAIRFIELD-SUISUN, CALIFORNIA
Even with latest federal stimulus, experts say more is needed to keep local businesses afloat [The Bakersfield Californian]
Jan. 1 A new fiscal stimulus bill signed into law Dec. 27 will provide much-needed relief to Kern County businesses, which have been struggling to survive over the last few months. Still, the economic toll caused by the coronavirus pandemic has left many employers in difficult positions, and economic experts say more funding will be needed before widespread vaccinations become available.
“There’s a huge spectrum of individual situations that is really, really, difficult to try to lump into one category, but it’s a broad spectrum across the board,” said Kelly Bearden, director of the Cal State Bakersfield Small Business Development Center. “As far as a devastating impact on businesses in general, I would say it’s the worst that’s happened, at least in my lifetime.”
The head of the local Small Business Development Center will go online Wednesday to address loan provisions in the newly signed COVID-19 financial relief package.
Kelly Bearden, director of Cal State Bakersfield s SBDC, will talk about business lending provisions contained in the $908 billion federal stimulus at a free hour-long webinar starting at noon.
He ll also discuss details of Californiaâs $500-million pandemic relief grant program opening Wednesday.
CSUB economist Richard Gearhart will join Bearden to go over data suggesting restaurants hit hard by pandemic restrictions could do well in 2021. He ll also make the case for future economic stimuli.
SBDC webinar will delve into new recovery package bakersfield.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bakersfield.com Daily Mail and Mail on Sunday newspapers.