The Coronavirus Aid, Relief, and Economic Security (CARES) Act was signed into law on March 27th, 2020. The CARES Act was designed to be an economic relief bill to help keep qualifying small businesses afloat during enforced COVID-19-related closures, boost vital industries, and aid American adults and families.
The CARES Act includes a Paycheck Protection Program (PPP) which authorizes federally guaranteed loans to qualifying small businesses. The U.S. Chamber of Commerce has issued the guide below to help small businesses and self-employed individuals prepare to file for a loan.
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Please contact your Lurie advisor for guidance on your specific situation.