The U.S. Chamber of Commerce released a guide for small business owners, independent contractors and freelancers to help them file for a coronavirus relief loan under the Coronavirus Aid, Relief, and Economic Security (CARES) Act.
The guide outlines the steps small businesses should take now to access funds that will help keep their workers on payroll. Further guides will be developed as the CARES Act is implemented.
Suzanne Clark, U.S. Chamber of Commerce president, said they are working with state and local chambers across the country to provide businesses with the necessary information to stay afloat and keep people employed during the pandemic.
“This comprehensive guide ensures small business owners fully understand what aid is available to them and how to access those funds as quickly as possible,” Clark said.
The CARES Act was passed by Congress last week. Within it contains the Paycheck Protection Program which allocates $350 billion to small businesses that maintain their payroll during this emergency with federally guaranteed loans. Loans may be forgiven if applicants maintain payroll.
From our sister paper The Mountain Mail at www.themountainmail.com