CARES Act and Small Business Paycheck Protection Loans
The “Coronavirus Aid, Relief, and Economic Security Act” or the “CARES Act” (“Act”) was unanimously approved by the United States Senate on March 25, 2020. On March 27, 2020, the Act was passed by the House of Representatives and signed into law by President Trump. Many small business owners are questioning how the Act will help them remain operational and if they will qualify for relief. While it is a fluid process, the questions that we are most commonly receiving are addressed below.
NYT: F.A.Q. on Stimulus Checks, Unemployment and the Coronavirus Plan
To learn more about the recently passed coronavirus rescue package, please see the following New York Times article. The New York Times is currently offering at no charge information related to news and guidance regarding the the coronavirus outbreak. https://www.nytimes.com/article/coronavirus-stimulus-package-questions-answers.html
