A: The new Cares Act is a $2.2 trillion rescue work named Coronavirus, Support, Rescue, and you can Financial Shelter (CARES) Operate, which includes the latest “Salary Defense System” (PPP). Here are the fresh ways to those commonly expected inquiries.
A: According to the CARES Act Congress reserved $349 billion for usage by Small company Government (SBA) to help you guarantee and you will forgive funds that have been acquired and you may used to remain gurus operating and reduced inside the “secured several months” – that’s defined as
The fresh new CARES Act increases upon the current 7(a) financing program under the Business Operate and creates another group of money all the way to $ten billion without a doubt accredited smaller businesses.