Information about the relief packages that are being made available through the Coronavirus Aid, Relief, and Economic Security (CARES) Act that was signed into law week, is now starting to be released, and offers insights and guides to help companies that might be interested in applying for loans or grants.
The House Committee on Small Business has published a flow chart that offers insights into the two primary vehicles for small businesses to obtain relief — the Paycheck Protection Program and the Economic Injury Disaster Loan. [EDITOR’S NOTE — If you were a member of the free AccountsRecovery.net Slack channel, you would have seen this yesterday. Not a member? Email me to get your free access today. Thanks to Harry Strausser for uploading the chart to the channel.] A copy of the flow chart can be accessed by clicking here.
The Senate Committee on Small Business & Entrepreneurship has published a small business owner’s guide to the CARES Act, including explanations of the different programs that are now available, answering some common questions about the programs, and including links and references to counseling training for small businesses.
A one-page document outlining the Paycheck Protection Program, which will be commonly referred to as the PPP, is available by clicking here. During a webinar hosted by AccountsRecovery.net yesterday, there were a lot of questions about the PPP and how it can help companies in the credit and collection industry. Listen to a recording of the presentation from Tom Good of Baron & Newburger by clicking here.
More details for individuals and companies that will seek to borrow money through the PPP is available by clicking here.
When you are ready to move forward, here is an application
