The CARES Act (assistance for small businesses)

 

The Coronavirus Aid, Relief and Economic Security (CARES) Act allocates $350 billion to help small businesses keep workers employed during the economic downturn of the COVID-19 pandemic.

Know as the Paycheck Protection Program, the initiative provides 100% federally guaranteed loans to small businesses.

Small business owners, self-employed persons and 501(c)(3)s should use one or both of the resources below to help determine if you are eligible and how to prepare to file a loan. It’s recommended you take this step to file sooner than later.

Small Business Guide and Checklist for Coronavirus Emergency Loans
published by the U.S. Chamber of Commerce

The Small Business Owner’s Gide to the CARES Act
published by the U.S. Senate Committee on Small Business