Small Business Owner’s Guide to the CARES Act

If you’re a small business owner wondering how your business can stay afloat amidst the current coronavirus crisis, the good news is that there are relief resources from the Federal Government available to any business – including 501c3’s, Sole Proprietorship’s, independent contractors, and self-employed individuals.

One of the best, concise guides I’ve found to date has been published by the U.S. Senate and is available here.

Of particular benefit is a program you should check out called the Paycheck Protection Program. The goal of this program is to enable you, the small business owner, to keep your employees on your payroll and your business up and running until the crisis is past. And while this is technically a loan program, the terms are such that up to 8 weeks of payroll costs incurred to maintain employees and wages may be forgiven if you maintain your workforce – effectively making it a grant. Definitely worth a look!

Everyone stay safe out there!

Author: Glenn Mores

President & CEO MicroData