The economic impacts of the COVID-19 pandemic continue to affect small businesses across the country. While the CARES Act helped revitalize local economies in nearly every state, there is an overwhelming demand for even more grants and loans for small business owners. Loans such as the Economic Injury Disaster Loan (EIDL) and the Paycheck Protection […]
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 […]
In just a short time, the novel coronavirus pandemic forced people and businesses everywhere to make unprecedented decisions. With lockdowns and social distancing, many people can’t work, and many businesses found themselves cut off from their sources of income. Suddenly, small business owners started needing to make difficult choices about how to plan for the […]
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 […]
