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