"Today, our elected representatives came together in a powerful way to provide the much needed relief that American workers and businesses need and deserve during this unprecedented time. We applaud Congress and the administration for working together to enact the Coronavirus Aid, Relief, and Economic Security (CARES) Act on a strong, bipartisan basis. Securing these funds could make the difference between keeping a business up and running over the coming weeks or being forced to reduce salaries, lay off employees, or shutter businesses entirely. No family and no business should go bankrupt because of the financial hardships caused by the coronavirus."
I couldn't agree more! Here are some of the resources they provided to help us understand the Paycheck Protection Program:
- The Coronavirus Emergency Loans Small Business Guide and Checklist (please note: this is a different loan program from what the SBA offered prior to today). This loan program has portions that may be forgiven.
- An interactive map showing how much aid is available under the Small Business Paycheck Protection Program.
- Recent town hall meeting held by the US Chamber with Inc. to discuss how businesses can get CARES Act loans. Watch the meeting HERE.