Congress passed and President Trump has signed into law a $2 trillion emergency spending bill into law. Here's what you should know about the act.
Per the U.S. Chamber of Commerce, "the CARES Act allocated $350 billion to help small businesses keep workers employed amid the pandemic and economic downturn. Known as the Paycheck Protection Program, the initiative provides 100% federally guaranteed loans to small businesses that maintain their payroll during this emergency."
Small businesses in Texas are eligible for a total of $27 billion in aid, which could benefit hundreds of thousands of small businesses and millions of small business employees.
The U.S. Chamber has put together a guide to help small businesses understand what this means for them.
The Small Business Owner's Guide to the CARES ActDownload