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.
The application period opens Aug. 27 and runs through Sept. 7.
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