Mississippi State University and the Mississippi Small Business Development Center have been provided with resources from the CARES Act to provide education, training and business advising to small businesses that have been impacted by the COVID-19 pandemic. As a result of mandated changes in business operations, many family businesses have had to shift their operations. The FBEI Outreach Series – Responding to COVID-19 addresses the survival, growth and sustainability of small businesses and their special needs.
In this session, host Mark Scott speaks with Bank of Kilmichael president and CEO Buddy Mortimer, who discusses round two of the Paycheck Protection Program (PPP), a continuation of the forgivable program initially created in March 2020 to help small businesses stay afloat during COVD-19. If you didn't take advantage of the PPP in the first round, you can still do so in the second round, and if you were a first draw borrower, you can borrow again in the second round to continue to help you. This update includes topics such as how the PPP funds can be used, where and how to apply, what documentation the lender will look for as you go through the loan application, the application deadline, and additional SBA resources that are out there that help you navigate through this process.