small business owner's guide to the cares act

To help small business owners and entrepreneurs better understand the new programs that soon will be available to them, the Senate Committee on Small business & Entrepreneurship has created a comprehensive guide to many of the small business provisions in the Coronavirus Aid, Relief, and Economic Security (CARES) Act just passed by Congress.  These programs and initiatives are intended to assist business owners with whatever needs they have right now.


When implemented, there will be many new resources available for small businesses, as well as certain non-profits and other employers.  This guide provides information about the major programs and initiatives that will be available from the Small Business Administration (SBA) to address these needs, as well as some additional tax provisions that are outside the scope of the SBA.  Click below for the guide.


GUIDE TO THE CARES ACT


Struggling to get started?

The following questions are a good jumping off point, and are answered in the
guide.

  1. Do you need capital to cover the cost of retaining employees? The Paycheck Protection Program might be right for you.
  2. Do you need a quick infusion of a smaller amount of cash to cover you right now? You might want to look into an Emergency Economic Injury Grant.
  3. How do you ease your fears about keeping up with payments on your current or potential SBA loan? The Small Business Debt Relief Program could help.
  4. How about some quality, free counseling to help you navigate this uncertain economic time? The resource partners on page 9 might be your best bet.

 

To keep up to date on when these programs become available, please stay in contact with your local SBA District Office.