In addition to individual payments and unemployment enhancements, the $2 Trillion Federal Assistance bill - called the
Coronavirus Aid, Relief and Economic Security Act (CARES)
signed into law on Friday - has
SIGNIFICANT BENEFITS FOR SMALL BUSINESSES.
Specifically, your business or organization may be able to:
* Receive a "PPP" loan to help you cover payroll that is
i.e. you don't have to pay it back depending on how you use it
* Receive an "EIDL" SBA Loan in which an
advance of $10,000 acts like a GRANT
i.e. you don't have to pay it back
Each of these is described more below, along with a few other updates as we all continue to adhere to the necessary physical distancing needed to combat this devastating virus. In the interim, start working on getting this Federal support money now so you are in a better position to regrow your business or organization when we all defeat it.