COVID-19 SBA LOAN PROGRAMS

The following is a summary from our lobbying firm Cornerstone Government Affairs of the two small business loan programs created as a result of the COVID-19 Pandemic.

The first program was created through the passage of what we are calling the “COVID-I” legislation. That bill created a $1 billion fund to immediately assist small businesses hit hard by the current economic shutdown. Unlike traditional Small Business Administration (SBA) funding mechanisms, this program is being administered directly by the SBA and is live and accepting applications currently (see more below).

The second program was created through the passage of what we are calling “COVID-III” legislation. That bill created the Paycheck Protection Program and the Economic Injury Disaster Loan (EIDL) program. These programs will be administered more like traditional SBA programs, i.e. through third party, 7(a) lenders.

NOTE #1: Organizations cannot accept funds from both programs, but they are welcome to apply to both and determine which one is the best fit before signing off on final terms.

NOTE #2: Cornerstone enjoys relationships with two SBA 7(a) lenders, who have agreed to provide expedited services to those clients who need to access funds and participate in the program. For more information, please email Campbell Kaufman at ckaufman@cgagroup.com.


COVID-I

The U.S. Small Business Administration is offering designated states and territories low-interest federal disaster loans for working capital to small businesses suffering substantial economic injury as a result of the coronavirus (COVID-19). Upon a request received from a state’s or territory’s governor, SBA will issue under its own authority, as provided by the Coronavirus Preparedness and Response Supplemental Appropriations Act that was recently signed by the President, an Economic Injury Disaster Loan declaration.

Any such Economic Injury Disaster Loan assistance declaration issued by the SBA makes loans available statewide to small businesses and private, non-profit organizations to help alleviate economic injury caused by the coronavirus (COVID-19). This will apply to current and future disaster assistance declarations related to coronavirus.

SBA’s Office of Disaster Assistance will coordinate with the state’s or territory’s governor to submit the request for Economic Injury Disaster Loan assistance.

Once a declaration is made, the information on the application process for Economic Injury Disaster Loan assistance will be made available to affected small businesses within the state.

SBA’s Economic Injury Disaster Loans offer up to $2 million in assistance and can provide vital economic support to small businesses to help overcome the temporary loss of revenue they are experiencing.

These loans may be used to pay fixed debts, payroll, accounts payable and other bills that can’t be paid because of the disaster’s impact. The interest rate is 3.75% for small businesses. The interest rate for non-profits is 2.75%.

SBA offers loans with long-term repayments in order to keep payments affordable, up to a maximum of 30 years. Terms are determined on a case-by-case basis, based upon each borrower’s ability to repay.

SBA’s Economic Injury Disaster Loans are just one piece of the expanded focus of the federal government’s coordinated response, and the SBA is strongly committed to providing the most effective and customer-focused
response possible.

To apply for these loans, click here -https://disasterloan.sba.gov/.

For questions, please contact the SBA disaster assistance customer service center at 1-800-659-2955 (TTY: 1-800-877-8339) or e-mail disastercustomerservice@sba.gov.


COVID-III

The third COVID-19 package expected to become law includes a new SBA loan program, the Paycheck Protection Program, as well as a grant program associated with the EIDL program. The Paycheck Protection Program is intended to keep workers on small business payrolls through offering forgivable loans. The EIDL grant program offers small businesses a one-time $10,000 grant to cover costs in the short term.

The Paycheck Protection Program

Applies to you if:

You were in business and employed fewer than the greater of 500 people or the SBA size standards in number of employees for your industry on February 15, 2020.

You are a small business, nonprofit, veterans’ organization, tribal business, or are self-employed, an independent contractor or sole proprietor.

What it does:

Allows you to apply for a 100% government backed, low interest SBA 7(a) loan up to $10 million. The loan amount will equal 250% of your average monthly payroll costs.

The period covered for the debt forgiveness is from February 15, 2020 until June 30, 2020.

The 100% government backed loans and fee waivers will be authorized through December 31, 2020.

Allows you to use the loan to cover payroll costs, including salaries, paid sick and medical leave, insurance premiums, mortgage, rent and utility payments.

Allows the loan to be forgiven in an amount equal to what you spent on payroll, rent and mortgage interest (on leases and mortgages in effect on February 15, 2020).

Reduces the loan amount forgiven proportionately to the reduction in number of employees retained compared to last year and reduced by the reduction in pay of any employee greater than 25% compared to last year.

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Manufacturing Investment Is Accelerating. Can the Workforce Keep Pace?

October 15, 2026
As pharmaceutical and biotechnology companies expand U.S. manufacturing operations, a growing demand for specialized talent underscores the importance of industry-driven workforce development. October 16, 2026 | Georgia Life Sciences The United States is experiencing a resurgence in domestic manufacturing investment, with pharmaceutical and biotechnology companies announcing major expansions and new production facilities. But as investment accelerates, a critical challenge is emerging: ensuring that a skilled workforce is available to support this growth. According to a Deloitte and The Manufacturing Institute study , approximately 3.8 million manufacturing positions could need to be filled nationwide through 2033 , with as many as 1.9 million potentially remaining unfilled due to workforce and skills gaps. While these projections span the broader manufacturing sector, the implications for life sciences are significant. Biomanufacturing's Growing Talent Challenge A recent PharmaVoice article examines how pharmaceutical companies are responding to growing competition for skilled workers, particularly in specialized roles such as automation engineering, quality assurance, regulatory affairs, process engineering, and manufacturing operations. These positions are essential to bringing new facilities online, maintaining regulatory compliance, and ensuring safe, reliable production. The challenge extends beyond competition among pharmaceutical manufacturers. Life sciences companies are increasingly competing with industries such as semiconductors, aerospace, energy, and advanced manufacturing for workers with similar technical skills. Some companies are responding by investing directly in regional education and training partnerships. Eli Lilly, for example, recently committed $15 million to San Jacinto College in Texas, including $12.5 million dedicated to workforce training, alongside a major manufacturing expansion in the Houston area. The message is increasingly clear: Workforce planning must begin alongside facility planning, not after construction is complete. What This Means for Georgia Georgia has an opportunity to build on its growing biomanufacturing presence, established industry base, research universities, and technical education infrastructure. However, continued success will depend on ensuring that workforce development keeps pace with industry investment. As manufacturing technologies evolve, employers will need workers with expertise in automation, digital systems, quality control, and advanced production processes. Traditional education pathways alone may not be sufficient to meet these changing needs. That makes stronger collaboration among employers, educational institutions, workforce organizations, and policymakers increasingly important. Through its Manufacturing Council, Georgia Life Sciences is working to strengthen industry engagement and better understand employers' evolving workforce needs. These conversations help identify opportunities to align education and training with the skills companies need today and anticipate those they will require tomorrow. The Georgia Life Sciences Institute also supports the long-term talent pipeline through education and workforce initiatives designed to introduce students and educators to life sciences careers and strengthen connections between education and industry. Looking Ahead: Talent as a Competitive Advantage As states compete to attract life sciences investment, workforce readiness will increasingly influence where companies choose to expand and how successfully those investments translate into long-term economic growth. For Georgia, the opportunity is not simply to attract new facilities but to build the talent ecosystem necessary to sustain them. That requires earlier employer engagement, flexible training models, stronger industry-education partnerships, and continued attention to emerging technologies that are changing the nature of manufacturing work. The next chapter of biomanufacturing growth will be defined not only by where companies invest, but by where they can find, develop, and retain the talent needed to succeed. Related Reading Deloitte: Taking Charge — Manufacturers Support Growth With Active Workforce Strategies PharmaVoice: Pharma's Manufacturing Boom Has a Workforce Problem

Georgia Life Sciences Weighs In on PBM and 340B Policy

October 5, 2026
Georgia Life Sciences has submitted written comments to the Georgia House Study Committee on Pharmacy Benefits Managers and Consumers’ Access to Prescription Medications, encouraging greater transparency, accountability, and a focus on measurable patient benefit across the prescription drug system. The comments address both pharmacy benefit manager practices and the federal 340B Drug Pricing Program, emphasizing the importance of understanding where prescription drug savings accrue and whether those savings ultimately benefit patients. The Study Committee continues its work this fall as it develops recommendations for the Georgia General Assembly. Read Georgia Life Sciences’ full comments →

Georgia Life Sciences Joins National Coalition Calling for PAHPA Reauthorization

September 22, 2026
Georgia Life Sciences (GLS) has joined more than 80 organizations from across industry, academia, public health and the biosecurity community in calling on congressional leaders to fully reauthorize the Pandemic and All-Hazards Preparedness Act (PAHPA) before the end of 2026. Led by the Johns Hopkins Center for Health Security, the coalition urged congressional leaders to advance a comprehensive reauthorization of PAHPA, the federal framework that supports the nation’s ability to prepare for and respond to public health emergencies and other health security threats. First enacted in 2006, PAHPA established and strengthened critical components of the nation’s health security infrastructure, including the Biomedical Advanced Research and Development Authority (BARDA). The law also supports public-private partnerships involved in the research, development, manufacturing and procurement of medical countermeasures, including vaccines, therapeutics and diagnostics. PAHPA’s authorization expired in 2023 and key provisions have since continued through short-term extensions. The coalition is calling for a comprehensive reauthorization that provides greater stability and ensures the nation’s preparedness infrastructure can continue adapting to emerging biological, infectious disease and other health security threats. For the life sciences industry, these programs are particularly important. Partnerships between government and industry can help move promising technologies from research through development and manufacturing while maintaining capabilities needed to respond quickly during an emergency. The Biotechnology Innovation Organization (BIO), also a signatory to the letter, has identified several priorities for reauthorization, including continued authorization of BARDA, the Strategic National Stockpile, Project BioShield and the Pandemic Influenza Program, as well as incentives supporting the development of medical countermeasures. Georgia Life Sciences is proud to join organizations across the country in supporting a strong and sustainable national framework for health security, preparedness and biomedical innovation. Read the coalition letter and view the full list of signatories.
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