$2.2 Trillion CARES Act Provides Relief To Small Businesses

On Friday, March 27, 2020, President Trump signed into law the Coronavirus Aid, Relief, and Economic Security Act of 2020 (or “CARES” Act) (Pub. L. No. 116-XXX) (H.R. 748). The Act provides more than $2 trillion in emergency economic relief for businesses, families and individuals affected by the coronavirus pandemic (COVID-19)—the largest stimulus or rescue package in American history. The Act represents the third piece of legislation intended to help families and companies impacted by COVID-19.

Below is a breakdown of the $2 trillion price tag and highlights of potential economic relief opportunities for U.S. businesses (including small and mid-sized businesses) if the bill is signed into law.

$500 Billion in Emergency Relief Funds for Larger U.S. Businesses, States and Municipalities

$367 Billion in Emergency Relief Loans to Small and Mid-Sized Businesses

$10 Billion Economic Injury Disaster Loan (EIDL) Program

The post The $2.2 Trillion CARES ACT – WHAT YOU NEED TO KNOW! appeared first on Cardinal Business Financing, Inc. .

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