Manage episode 279783617 series 2611383
In this episode Harold King speaks with Steve Bulger, Atlantic Region Director for the Small Business Administration (SBA).
Created in 1953, the U.S. Small Business Administration (SBA) continues to help small business owners and entrepreneurs pursue the American dream. The SBA is the only cabinet-level federal agency fully dedicated to small business and provides counseling, capital, and contracting expertise as the nation’s only go-to resource and voice for small businesses. As the COVID 19 crisis has unfolded SBA has been at the forefront of efforts to keep the economy from freefalling. They have done so many ways but primarily with 2 programs. Their Economic Impact Disaster Loan program (EIDL) and the Paycheck Protection Program (PPP).
Harold and Steve talk about these programs, how they came to into being and how they are working. They talk about the forgiveness provisions of the PPP loans, the fact that some $100B remains available and what might change with the programs in the coming months. They also talk about how the SBA is positioning itself to help business recover once the economy is fully reopened.