Your daily guide to COVID-19 advice, resources, and information.
CARES Act Implementation Begins
We are now entering the implementation phase of the Coronavirus Aid, Relief, and Economic Security (CARES) Act. One of the most important determiners of the success of the programs created under the bill in supporting American families and businesses will be the clarity around the rules of each of the programs and the ease with which employers can access them. At the Chamber, we are encouraging federal agencies to make the rules simple and easy to understand. This is especially important around programs like the Paycheck Protection Program, which will provide loans and grants to small businesses. The ability of banking institutions to quickly and easily provide these loans will depend on the clarity of the guidance they receive from federal agencies.
Small businesses also can do their part by studying the various programs. The Chamber created guides to help walk business owners through the process. You can access the guides here. Before you start applying, make sure you know how these programs – especially the Paycheck Protection Program, the Employee Retention Tax Credit, and the Disaster loans interact with each other.
– U.S. Chamber Executive Vice President and Chief Policy Officer Neil Bradley
HOW TO ACCESS STIMULUS FUNDING FOR YOUR SMALL BUSINESS – READ HERE.