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Treasury and SBA Assistance for Small Businesses Impacted By COVID19

1 April 2020
 April 1, 2020
Category Industry News, News

Please find the information below on Assistance for Small Businesses, included in the Coronavirus Aid, Relief, and Economic Security Act (CARES Act). This information is also located on NAHMA’s Coronavirus Information and Resources website, under the Department of Treasury tab.


ASSISTANCE FOR AMERICAN WORKERS AND FAMILIES

In the weeks immediately after the passage of the CARES Act, Americans will see fast and direct relief in the form of Economic Impact Payments. For more information, CLICK HERE.

ASSISTANCE FOR SMALL BUSINESSES

The Paycheck Protection Program prioritizes millions of Americans employed by small businesses by authorizing up to $349 billion toward job retention and certain other expenses.

Small businesses and eligible nonprofit organizations, Veterans organizations, and Tribal businesses described in the Small Business Act, as well as individuals who are self-employed or are independent contractors, are eligible if they also meet program size standards.

For a top-line overview of the program CLICK HERE

If you’re a lender, more information can be found HERE

If you’re a borrower, more information can be found HERE

The application for borrowers can be found HERE

PRESERVING JOBS FOR AMERICAN INDUSTRY

The CARES Act assists eligible businesses looking for payroll support to keep Americans working. For more information, CLICK HERE.


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