CARES Act Resources

CARES Act Resources for Restaurant & Foodservice Industry

 

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:

https://restaurant.org/Covid19_CARES-Act

 

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:

https://www.sbc.senate.gov/public/index.cfm/guide-to-the-cares-act

 

The SBA (U.S. Small Business Administration) explains the Paycheck Protection Program, detailed here:

https://www.sba.gov/funding-programs/loans/paycheck-protection-program-ppp

 

Learn about & apply for Economic Injury Disaster Loan Assistance here with the SBA:

https://www.sba.gov/disaster/apply-for-disaster-loan/index.html

 

*Consult with your attorney & accountant to discuss the best options available to you & your business.