The Coronavirus Aid, Relief, and Economic Security (CARES) Act was officially signed into law on Friday, March 27, 2020. The CARES Act includes a number of programs designed to assist business owners with their most emergent needs.
Paycheck Protection Program
capital to help cover the cost of retaining employees.
Emergency Economic Injury Grant
quick infusion of a smaller amount of cash to cover your immediate needs.
Small Business Debt Relief Program
assistance to help you keep up with payments on your current or potential SBA loan.
for a guide which provides information about all of the major programs and
that will soon be available from the Small Business Administration (SBA) as well as some additional tax provisions that are outside the scope of the SBA.
It is our suggestion that businesses should apply with the SBA on the previous stimulus approval and then be ready to submit an application with your bank this week with the next package.
If you have questions regarding your specific situation, or need assistance completing loan applications please contact your accountant. We are ready to assist you and will continue to provide updates as they development.