The Chamber of Commerce Association of Alabama will host a webinar today at 3 p.m. titled “What Your Business Needs to Know About the CARES Act.” To register, click here.
You should continue to monitor programs being offered for you! The Paycheck Protection Program, Employee Retention Tax Credit and Economic Injury Disaster Loan are available, but you should be aware of how they interact with one another.
The Paycheck Protection Program (PPP) provides small businesses with funds to pay up to eight weeks of payroll costs including benefits. Loans can begin being processed today. PPP will be available through June 30, 2020. Download the guide here.
The Employee Retention Tax Credit is for employees who are closed, partially closed or experiencing significant revenue losses as a result of COVID-19. Employers who receive a PPP loan are not eligible for a tax credit. Download the guide here.
The CARES Act has expanded SBA’s Economic Injury Disaster Loan, which allows applicants to request a $10,000 advance that can be applied toward payroll, rent and other allowable expenses. Download the guide here.