CARES Act Information

The CARES Act Includes:

  • Paycheck Protection Program (PPP) Loans: Provide capital to cover the costs of retaining employees, such as for salary and wages, healthcare benefits, sick time, retirement benefits and more.

  • Loan Forgiveness: SBA will forgive the principal amount of PPP Loans that a lender reasonably expects a borrower will expend during the 8-week period beginning on the date of origination for the loan on the sum of certain (a) payroll costs, (b) mortgage interest, (c) rent obligations and (d) utility payments.

  • Economic Injury Disaster Loans (EIDL) and Emergency Economic Injury Grants (EEIG): Provide loans and grants to small businesses and private nonprofits harmed by COVID-19.

  • Training and Counseling: Resource partners across the country may receive extra funds to help support small business owners with free counseling and low-cost training regarding COVID-19.