Today President Trump signed into law a $2 trillion package of relief measures aimed at supporting jobless Americans, boosting business activity and providing resources for health care workers struggling to treat COVID-19, the illness caused by the novel coronavirus pandemic. The Coronavirus Aid, Relief and Economic Security Act (CARES Act) includes a variety of provisions which may offer critical benefit to businesses impacted by the COVID-19 pandemic. The CARES ACT would allow small and medium sized businesses to receive federal loans – in some cases forgivable – to cover payroll and other expenses. The CARES Act also expands unemployment benefits for workers impacted by the outbreak, while extending unemployment eligibility to many who are otherwise not regularly entitled to receive such benefits.
The process of applying for the loans or other assistance offered through the CARES Act can be challenging. Carson has quickly put together a team of attorneys to assist you with this process. Please look forward to additional information regarding this matter in the upcoming days.
Liesl Muehlhauser