Webinar scheduled for businesses interested in DeKalb loan program

DeKalb County will host a webinar next week for local small businesses interested in its $15 million loan program.

The webinar is scheduled for 9 a.m. Monday and participation is required for businesses that plan to seek a loan. Registration and more information are available at dekalbcountyga.gov/COVID19loan.

DeKalb’s Board of Commissioners approved the loan program — which was developed by the administration of CEO Michael Thurmond and members of the county’s COVID-19 task force — earlier this month. It will be funded using a portion of the federal coronavirus aid that the county received this spring.

Under the program, DeKalb businesses with annual revenues of less than $1 million and 20 or fewer employees will be eligible of loans of up to $40,000. The funds can be used for payroll; state unemployment and local taxes; employee benefits; mortgage interest or rent payments; commercial property utilities; and interest on other business-related debts.

Loans will be eligible for forgiveness after three months if participating businesses follow the spending parameters and either maintain employees or prove a “good faith” effort toward doing so.

Priority will be given to businesses that did not receive support from the federal Paycheck Protection Program.