Coronavirus Aid, Relief, and Economic Security Act (CARES Act)
(Updated March 27, 2020).
Customers looking for help to keep their workers employed during the COVID-19 pandemic and resulting economic downturn may want to consider the relief offered by the CARES Act. This includes the Paycheck Protection Program, which allocates $350 billion to help small businesses keep workers employed by providing 100 percent federally guaranteed loans to small businesses who maintain their payroll during this emergency, and these loans may be forgiven if borrowers maintain their payrolls during the crisis or restore their payrolls afterward. The attached PDF from the U.S. Chamber of Commerce provides guidance regarding Program eligibility and loan forgiveness:
Coronavirus Emergency Loans - Small Business Guide and Checklist