COVID-19: The Cares Act Explained

On Friday, March 27th, the president signed H.R. 748, titled the Coronavirus Aid, Relief, and Economic Security, or CARES Act.

Included in it is the Paycheck Protection Program, which significantly expands eligibility for 7(a) loans provided by the Small Business Administration. It also provides loan forgiveness for companies to maintain payroll and to pay other expenses.

The attached slide deck summarizes this particular section of the law and can help guide conversations with management about what course of action to take in response to the challenges inflicted by Coronavirus.

Click Here for Presentation

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