Special Edition | CARES Act Resources for Small Businesses

Apr 4, 2020

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I sat down with my financial planner, Mary Beth Storjohann today to talk about financial relief and resources for small businesses available through the CARES Act.

Today we’re talking about the Economic Injury Disaster Loan (also called EIDL), the Paycheck Protection Program (also called PPP) and the Deferral of Payment of Payroll Taxes.

This is an ever evolving situation right now, so Mary Beth is sharing the current details with us today, April 3rd.

Remember to stay calm, I know things feel stressful right now but there a a variety of options and forms of aid available to all of us. I encourage you to reach out to your CPAs & financial planners to figure out which plans are best for you. And, if you decide to apply for PPP, apply with the bank that you’re currently doing your business banking with.

Check the links below for more information:

LINKS:

EIDL:https://www.forbes.com/sites/brianthompson1/2020/03/29/getting-cash-for-your-small-business-through-the-cares-act/#c053e4d43a0a

https://www.sba.gov/funding-programs/disaster-assistance

Lender Match:https://www.sba.gov/funding-programs/loans

Paycheck Protection Program (PPP) Info: Borrowershttps://www.sba.gov/funding-programs/loans/coronavirus-relief-options/paycheck-protection-program-ppp

https://home.treasury.gov/system/files/136/PPP--Fact-Sheet.pdf

https://www.uschamber.com/sites/default/files/023595_comm_corona_virus_smallbiz_loan_final.pdf

https://www.sbc.senate.gov/public/_cache/files/2/9/29fc1ae7-879a-4de0-97d5-ab0a0cb558c8/1BC9E5AB74965E686FC6EBC019EC358F.the-small-business-owner-s-guide-to-the-cares-act-final-.pdf

https://www.sba.gov/page/coronavirus-covid-19-small-business-guidance-loan-resources

https://www.sba.gov/funding-programs/loans/paycheck-protection-program-ppp

https://www.visualcapitalist.com/the-anatomy-of-the-2-trillion-covid-19-stimulus-bill/

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