On Friday, March 27, President Trump signed the Coronavirus Aid, Relief, and Economic Security (CARES) Act, the single largest economic relief package in U.S. history at $2.2 trillion. Included: direct payments to individuals earning less than $99,000 annually, up to $3,400 per family of four; $350 billion in loans for small businesses with loan forgiveness provisions; and $250 billion in enhanced unemployment insurance.
As a small business owner, it can be difficult to navigate the options now available to you as a result of this pandemic. Below here are informative & trustworthy resources to better understand the CARES Act.
The National Restaurant Association has provided an easy-to-follow summary of the CARES Act & what it means for restaurants, foodservice establishments, and their employees:
The U.S. Senate Committee on Small Business & Entrepreneurship has created The Small Business Owner’s Guide to the CARES Act, which is downloadable here:
The SBA (U.S. Small Business Administration) explains the Paycheck Protection Program, detailed here:
Learn about & apply for Economic Injury Disaster Loan Assistance here with the SBA:
*Consult with your attorney & accountant to discuss the best options available to you & your business.