As part of belonging to your professional association, we are concerned with how you are doing during this crisis and how this is affecting your business. Please see below for a legislative summary of the different parts of the stimulus packages and how they could affect you and your business. The links will assist you in identifying what’s available and how to apply.


Starting April 3, small businesses and sole proprietorships can apply for loans through existing SBA lenders. Starting April 10, independent contractors and self-employed individuals can apply for loans through existing SBA lenders. Other regulated lenders will be available to make these loans as soon as they are approved and enrolled in the program. Visit www.sba.gov for a list of SBA lenders. There is a funding cap, so the Treasury Department recommends applying as soon as possible.

  1. Government Benefits - General (May Cover Eligible Employees, Independent Contractors, and Firm Owners)
  2. Government Loan Benefits for Small Businesses (May Cover Eligible Independent Contractors and Firm Owners)
  3. Loan Deferral for Individuals and Small Businesses (May Cover Eligible Employees, Independent Contractors, and Firm Owners)
  4. Emergency Paid Leave (May Cover Eligible Employees and Independent Contractors)
  5. Individual Payments (May Cover Eligible Employees, Independent Contractors, and Firm Owners)
  6. Unemployment Benefits (May Cover Eligible Employees)
  7. Unemployment Disaster Benefits (May Cover Eligible Independent Contractors)

 

CARES Act for Small Businesses

 

 

Stay safe, informed and healthy.

 

*Thank you to NCRA for compiling and providing this information.  For permission to reprint or post in other areas, please contact NCRA at [email protected]

 

**Please note that the information provided includes condensed summarizations, descriptions, or opinions about recently enacted statutes. The information is not intended, nor should it be construed, to be legal advice. Members with needs or questions concerning the specific issues mentioned should seek the guidance of competent counsel or should contact the appropriate federal agency.