CARES Act Creates Additional Loans for Small BusinessMar 30, 2020
CARES Act ArticleCongress has recognized the extreme strain the COVID-19 pandemic and economic downturn has placed on small businesses. On March 27, 2020, Congress passed and President Trump signed the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act” or “Act”) to boost the economy and help small businesses bridge the gap during the pandemic. The CARES Act assists small businesses in three main ways:
(1) “Paycheck Protection Program” loans to pay and retain workers; (2) Emergency Injury Disaster Loans (“EIDL”) and grants; and (3) partial loan forgiveness and subsidies.
Read how the CARES Act assists small businesses:
CARES Act Article