THE CARES ACT—Help for Small Businesses and Nonprofits Amid COVID-19

Renner Business News; April 4, 2020—Joan M. Renner, CPA, CGMA

The CARES Act is still very new and, in some ways, its application is still being worked out.  However, business owners and nonprofit leaders should gain familiarity with the CARES Act to determine which provisions can help them, including:

  • The Paycheck Protection Program,
  • Emergency Economic Injury Grants,
  • Economic Injury Disaster Loans,
  • Employee Retention Credits and the
  • SBA Debt Relief Program.

To help with that, here’s a summary of the CARES Act and how it can help small businesses and nonprofits amid COVID-19. Ultimately, additional guidance will be available from the SBA, the U.S. Treasury, the IRS and your bank. For specific information about how the CARES Act will affect you, consult your financial professional.

©2020 Renner and Company, CPA, P.C. All Rights Reserved.