The CARES Act, providing relief for American workers and small businesses, includes several new temporary programs to address the COVID-19 outbreak.
Paycheck protection program: Provides loan forgiveness for retaining employees by temporarily expanding the traditional U.S. Small Business Administration (SBA) SBA 7(a) loan program.
EIDL Loan Advance: Provides up to $10,000 of economic relief to businesses that are currently experiencing temporary difficulties.
SBA Express Bridge Loans: Enables small businesses who currently have a business relationship with an SBA Express Lender to access up to $25,000 quickly.
SBA Debt Relief: The SBA is providing a financial reprieve to small businesses during the COVID-19 pandemic.
For more, visit www.sba.gov.
