CLARKSVILLE, Tenn. – The federal Coronavirus Aid, Relief and Economic Security (CARES) Act enacted March 27 provides assistance to small businesses during this public health emergency.
Programs and initiatives in the CARES Act are intended to assist small business owners, some non-profit organizations and other employers with their immediate needs.
Here are details about some of the programs:
The Paycheck Protection Program provides capital to cover the cost of retaining employees.
Emergency Economic Injury Grants provides a quick infusion of a smaller amount of cash to cover immediate needs.
Small Business Debt Relief Program can help business owners keep up with payments on a current or potential SBA loan.
Business counseling is available to help owners navigate challenging times.
Click here for a complete guide to information about the major programs and initiatives in the CARES Act available from the Small Business Administration (SBA) to address the coronavirus emergency.