The CARES Act will provide critical liquidity to businesses during this time of national crisis. While it will take time to slow the spread of COVID-19, these resources will help mitigate the negative economic effects from the sudden halting of activity in various sectors. Available assistance will vary depending on the size of enterprise.


A key provision in the recently passed CARES Act set aside $350 billion for the purpose of making loans to small businesses. These loans will be forgiven/converted to grants if certain conditions are met—essentially that the money is used as advised in the law—which will allow businesses to maintain payrolls and pay for fixed costs (rent, utilities, etc.). The idea is to preserve businesses so that the economy can more quickly recover once public health considerations abate.

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