Overview
The federal government’s $2 trillion economic stimulus bill can help your company survive.
But you have to understand NOW what’s in it for you and how to apply for funds. This bill is a game changer for many small businesses, but only if you act soon.
BizTimes, U.S. Small Business Administration, the Horton Group and Corporate and Commercial Finance Attorney Lawrence J. Glusman hosted a webcast on Wednesday, April 8 at 2:00 PM.
In this webcast, attendees heard from a panel of experts who explained the Payroll Protection Program section of the overall CARES Act, a $367 billion fund largely aimed at helping small businesses maintain a steady payroll during this virtual shut down of our economy due to the COVID-19 crisis.
The government’s intentions are clear – they are trying to stem the massive tide of layoffs by providing direct funding to cover company payrolls and health care benefits for an 8-week period. There are a number of details and guidelines, but the bottom line is that if you play by the rules, the bulk of the funds, and potentially ALL the funds you borrow under this program will be forgiven.
In this session you’ll learn:
- How the bill is intended to help small businesses.
- How the loan program works for different size firms.
- Insurance considerations related to CARES Act.
- How to apply.
- What are the risks and rewards?
- The details of what’s forgivable and what’s not.
