CARES Act Part 2 – Is the Government Giving Money to Small Business, Non-Profits, Self-Employed?
Covid19 has resulted in monumental government action. In March the Federal Government enacted the CARES Act. Learn what it means to small businesses, non-profits, and self-employed in this 35 minute video. We talk about size and scope, rebate checks, unemployment, EIDL, paycheck protection program, tax credits and others.
UPDATE: Paycheck Protection Program
- Applications for this emergency federal loan for small businesses has been extended to August 8.
- The amount of the loan that was to be dedicated to payroll for forgiveness dropped from 75% to 60%, thus increasing the amount of the money for other expenses from 25% to 40%.
- Initially requiring businesses to spend the funds in the eight-week period from the date funds were received, the timing has been extended to 24 weeks.
- Initially ending on June 30th, the covered period of the PPP loan now ends Dec. 31.
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