“This is the biggest stimulus package in history”🇺🇸for #smallbusiness #corporations #foxbusiness *If you are a business with under 500 employees, you are considered a small business and can qualify for the loans. 🙏🏻 The federal government has recently enacted two pieces of legislation to help small businesses weather the COVID-19 crisis, including the CARES ❤️(Coronavirus Aid, Relief, and Economic Security) Act passed on March 25, which provides $349 billion in Small Business Administration (SBA) loans. The previous bill provided for $7 billion in additional loans.
It is important to note that the goal of the government is to get these loans into the hands of small business owners as quickly as possible, in order to keep them going and be able to continue paying their employees. The loans are meant to address the loss in sales and ability to operate along with the corresponding inability to pay employees, rent, and other costs of doing business due to the pandemic. To that end, the SBA is trying to ease previous requirements for securing loans and attempting to make the process as simple as possible.
More info here —> @forbes https://www.google.com/amp/s/www.forbes.com/sites/allbusiness/2020/04/04/cares-act-loans-small-business-support/amp/