The University of Missouri St. Louis will host a free webinar Friday morning to help small business owners learn more about applying for federal funds to help businesses make it through the new coronavirus pandemic.
“We have folks who are trained in working with small business who have been pouring over this legislation and understand what needs to be shared with small businesses and how to get them connected with the right kinds of supports and resources,” said Karl Guenther, the director of UMSL’s Anchor Institution Initiative.
The webinar will focus on the Paycheck Protection Program established as part of Congress’s massive rescue package last month. Small businesses with fewer than 500 employees can take out loans that are forgivable if they keep their workers on for eight weeks or rehire them. Eligible firms can borrow up to two months of their average payroll plus another 25 percent, up to $10 million total. To be forgiven, most of the money has to be used to cover payroll, but a portion can be used on utilities and rent.
UMSL is partnering with MU Extension, North County Inc., Beyond Housing (our241.com), the St. Louis Economic Development Partnership and MOSourceLink for the event, and representatives from St. Johns Bank and Trust and US Bank will also be on hand to discuss how banks are implementing the new loan program.
The event starts at 8:15 a.m. Friday, April 10, and registrants will have an opportunity to submit questions. To register, go to https://www.eventbrite.com/e/small-business-workshop-applying-for-federal-relief-funds-tickets-102009350714.