3 Sources of Federal Relief for Small Businesses

Economic Injury Disaster Loans (EIDL) through the SBA

The Coronavirus Preparedness and Response Supplemental Appropriations Act provided $1Billion of loan subsidies for the SBA Economic Injury Disaster Loan program for small business entities financial impacted as a result of the coronavirus.

Please see our post here for more information about the program and how to apply for funds.

Please see our post here for an overview of loan eligibility and terms.

Emergency Family and Medical Leave Expansion Act

This section of the Families First Act provides for federal tax credits up to 100% of wages paid to support emergency family and sick leave.

Please see our post here for information about the impact of the act on employers with less than 500 employees.

Please see our post here for information related to tax credits provided to employers to offset the cost of the program.

Small Business Interuption Loans through SBA 7(a) Loan Program
The Coronavirus Aid, Relief, and Economic Security Act (CARES) provides small businesses with loans to support working capital, including provisions for loan forgiveness when funds are used for eligible costs.

Please see our post here to learn more about the benefits of this program.