Small Business Guide and Checklist for Emergency Loan (CARES Act)

By Shane Irving

The Coronavirus Aid, Relief, and Economic Security (CARES) Act has allocated $350 billion to help small businesses that are in need to keep their workers employed amid the COVID-19 pandemic and economic downturn. This is known as the “Paycheck Protection Program” and this initiative provides 100% federally guaranteed loans to small businesses who maintain their payroll during this unprecedented time. Below you will find the U.S Chamber of Commerces Small Business Guide and Checklist for Emergency Loans.

Additionally, these loans may be forgiven if borrowers maintain their payrolls during the crisis or restore their payrolls afterward.

Here are the questions you may be asking for your business:

  1. Am I eligible?
  2. What will lenders be looking for?
  3. How much can I borrow?
  4. Will this loan be forgiven?

Answered to these questions and more can be found here U.S. Chamber of Commerce Coronavirus Emergency Loans Small Business Guide and Checklist


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