CARES Act Summary for Small Businesses
What is the CARES Act?
On March 27, 2020, President Trump signed the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”). This $2 trillion package will provide relief in the face of the coronavirus (COVID-19) pandemic and its devastating effects on millions of people and businesses.
How does the CARES Act impact small businesses?
The PDF below provides an overview of the CARES Act, which is 880 pages, and focuses on some of the ways that this unprecedented legislation will affect American businesses and employees. Thanks to my friend, Jon Vegosen, for this incredible resource.
What do I do next?
We recommend you talk with your preferred SBA Lender quickly. If you need an intro to a SBA Lender, HRBOOST® would be happy to facilitate! Email us today.
The Department of Labor (DOL) has released a mandatory employee rights poster for the FFCRA. It should be posted or distributed to employees electronically (via email or online portal) by April 1. More information on the requirements can be found here.
Download:
CARES Act Summary for Small Business
Do you have questions about the SBA Loan program? Here’s our FAQ and Resource List.
