There have been extensive updates to the SBA Disaster Loan program in both the FFCRA and the CARES Act. Because of COVID-19, essentially all small…
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So far, Congress has passed two bills related to COVID-19 which have provisions specifically aimed at small businesses. They are: The Families First Coronavirus Response…
This portion of the Families First Coronavirus Response Act (FFCRA) creates a paid leave program for employees where the cost of salaries and benefits is…
This portion of the CARES Act gives businesses a tax credit worth 50% of employee wages (up to $10k per employee) for wages paid between Mar 12, 2020 and the end of the year. Note that you can't do a PPP loan and also take this credit - you must choose between the two.
Summary of the Main Street Lending Facility the Federal Reserve is creating to encourage bank lending to medium-sized businesses.
This part of the CARES Act allows small businesses to borrow 2.5 months of payroll expenses (up to $10 mil) and not have to pay those loans back as long as they are spent on payroll and overhead per the rules the government lays out.