Key CARES Act Relief Programs
The CARES Act economic relief bill is intended to help both individuals and small businesses through the pandemic crisis. Two key components of this bill that target small business relief are the
Paycheck Protection Program (PPP)
Economic Injury Disaster Loan Program (EIDL)
. Although both of these relief programs can be utilized by small businesses, the PPP has the unique feature of providing forgivable operating capital loans to small businesses seeking to maintain their payroll during the crisis and remain in business once the opportunity to operate normally returns. Here are some of the key details of the PPP program and the program's application process.