The CARES Act has officially passed and has gone in to effect. This Act will help relieve some financial stresses due to the coronavirius pandemic. We have attached a link here for you to read about and become knowledgeable with the CARES Act. Within the CARES Act you will see that there is 350 billion dollars set aside for small businesses to utilize during this pandemic. This money can be used for up to 8 weeks of cash flow assistance. Another great aspect of the loan program that is available to small businesses is that If employers maintain payroll the portion of the loans used to cover payroll costs, interest on mortgage obligations, rent and utilities will be forgiven.
