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Luckily, Congress recently passed the Coronavirus Aid, Relief, and Economic protection Act (CARES Act) to greatly help these businesses that are struggling. As well as supporting a few old-fashioned small company funding programs, the CARES Act additionally developed the Paycheck Protection Program (PPP) to provide qualified organizations an 8-week forgivable loan up to ten dollars million.

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Companies to locate extra funding should start with evaluating the SBA loans outlined within the CARES Act. The CARES Act includes provisions to expand other traditional SBA financing options such as: in addition to PPP loans

• Financial disaster and injury Loans (EIDLs) and Loan development
• SBA Credit Card Debt Relief
• SBA Express Bridge Loan

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