As part of our ongoing effort to support our members and customers during the COVID-19 Crisis, we are tracking the Government’s relief efforts – particularly the CARES Act.
Congress just passed and President Trump signed, a $2.2 trillion stimulus package, referred to as the Coronavirus Aid, Relief and Economic Security (CARES) Act, which contains small business loan programs of up to $10M for eligible small businesses as well as significant payroll tax credits.
Click Here to access the US Chamber of Commerce’s small business guide, outlining the requirements for loans under the CARES Act’s Paycheck Protection Program which has been funded with $350B to fund small business loans.
The US Chamber of Commerce’s guide answers the following questions for small businesses:
• Am I eligible for an emergency Loans?
• What information will I need to provide to Lenders?
• How much can I borrow?
• Is this Loan forgivable?
As the rule making begins on the Paycheck Protection Program and other credits and incentives authorized under the CARES Act, we will provide further updates and to assist in answering questions our customers and members have about these CARES Act programs. We will also be looking at the list of lenders approved by the Small Business Administration to issue the Paycheck Protection Program loans and will provide our customers and members with the information they need to apply for these loans.
In the meantime, please visit our website for more information at DinerDesigner.com