The Coronavirus Aid, Relief, and Economic Security Act (CARES Act), third in a line of stimulus bills, has been approved by both houses of Congress and signed by the President. As details continue to emerge, Philadelphia Insurance Companies wants to be sure our clients are aware of the immediate benefits provided by the CARES Act.
What does it mean for my organization?
- Emergency grants: An emergency grant of up to $10,000 to provide funds for small businesses and nonprofits to cover immediate operating costs. These funds can be available within three days.
Forgivable loans: The bill creates a new loan program within the Small Business Administration’s (SBA) current Economic Injury Disaster Loan Program. It provides up to $10 million per organization […]