CARES Act 

Dear Friends,

As you may be aware, this past Friday March 27, 2020, President Trump signed into law the $2.2 trillion emergency spending bill (the CARES Act) intended to help the economy recovery from the COVID-19 coronavirus pandemic.  The bill authorizes amongst other things to send Americans $1,200 payments and provide billions in small business loans.  The funds are intended to help small business through these difficult times which include help with employee payroll and rent payments. 

 

I urge you all to review the parts of the Act that are applicable to you, your business and your employees.  In many instances, SBA loans are forgiven if you comply with certain requirements and the loans do not have personal guarantees associated with them.

 

Most importantly, the SBA funds are provided on a first-come-first-serve basis until the funds run out.  If you need help or think you may, please act now!

 

Below are a few links for your review:

https://www.forbes.com/sites/rohitarora/2020/03/27/22-trillion-cares-act-provides-a-lifeline-to-small-businesses/#698a062360cf

https://www.sba.gov/page/coronavirus-covid-19-small-business-guidance-loan-resources#section-header-2

https://www.biz2credit.com/disaster-support/small-business-support-resource-hub-coronavirus

https://www.steptoe.com/en/news-publications/president-trump-signs-cares-act-into-law.html

                                                          

Stay healthy.    ​

 

Please note this article contains hyperlinks to additional content. The information being provided is strictly as a courtesy. We make no representation as to the completeness or accuracy of information provided at these web sites.