The attached SBA guide details the available relief provided by the CARES Act. For most small businesses, this guide will answer many questions you may have about this legislation.
In summary, you have access to three forms of relief:
Paycheck Protection Program (PPP) – capital to cover the cost of retaining employees.
Emergency Economic Injury Grant – quick cash infusion, right now.
Small Business Debt Relief Program – to help relieve businesses unable to make payments.
The SBA has counselors available to discuss your options. Your accountant is your best resource to define your eligibility. We have also found that our bank’s relationship manager has been a great resource for coordinating applications, and general timeline management.
Much thanks to our partners at EHTC and Chemical Bank as we navigate this unprecedented time. If your small business needs support applying for assistance, we highly recommend these two great compaines.