When Congress passed the CARES Act (Coronavirus Relief, Aid, and Economic Security), it signaled a landmark piece of legislation that provides over $2 trillion in aid in response to COVID-19. The CARES Act allows businesses and individuals to receive stimulus in the forms of tax incentives, credits, deductions, and recovery rebates. What is a Recovery Rebate? Recovery […]
With the coronavirus still raging through the United States, the SBA continues to accept loan applications from small businesses affected by the pandemic. Not only did the government provide additional funding to disaster loans such as the PPP and EIDLs, but there’s also still funding for the Express Bridge Loan (EBL) Pilot Program, designed to provide immediate […]
Ever since the SBA started taking loan applications due to the coronavirus pandemic, many small business owners focused solely on submitting their applications, which is entirely understandable. However, now that loan applications are being approved and money distributed to businesses across the country, another important question should be popping into your mind: how can I […]
Within the CARES Act is the Paycheck Protection Program (PPP) Loan, a $350 billion allocation of money to support small businesses. As of April 16th, 2020, the original funding for the PPP ran out. But as of the end of last week – April 23rd, 2020 – both the Senate and the House voted in […]
Small businesses across the United States are facing almost unprecedented challenges right now. The ongoing crisis around COVID-19 and the public health response required to combat it has radically changed the economic situation for many companies. Many businesses have been forced to lay off employees or even close – at least temporarily – in the […]
As the government continues to disperse the funding within the over $2 trillion bill, citizens and employees affected by the COVID-19 pandemic, nonprofits, small businesses, and their employees will reap the benefit. The CARES Act contains a section specifically designated for small business grants and loans. These grants and loans are designed to stimulate the economy […]
UPDATE – Saturday, April 25th, 2020 After several weeks of intense debate, the newest coronavirus bill – the 4th one to pass to date – passed both the Senate and House in landslide votes. The new bill provides $484 billion of additional funding to support businesses and essential services that are quickly running out of […]
Passed nearly two weeks ago, the CARES Act will provide many employees, individuals, and small business owners economic relief. Most of the money in the $2.2 trillion bill is projected to fund hospitals’ nationwide efforts to mitigate COVID-19 pandemic. However, $350 billion of the CARES Act was allocated specifically for small business owners. This will […]
The novel coronavirus pandemic has changed everything. Conditions are changing daily, and business owners don’t know if they’ll have customers or if they’ll even be allowed to operate from one week to the next. In this time of uncertainty, many businesses are at risk of having to fold or let employees go. It’s nearly impossible […]
The CARES Act is intended to provide critical support to the many small businesses that form the core of our economy and employ so many individuals. This ambitious package includes so many different measures that it can be frustrating trying to determine what in the new coronavirus legislation is most important for you and your business. […]
