The CARES Act
Congress passed the Coronavirus Aid, Relief, and Economic Security (CARES) Act to provide relief from many of the hardships created by COVID-19. It provides economic assistance to small businesses through the Economic Injury Disaster Loan (EIDL), Paycheck Protection Program (PPP), and more.
Updated April 1, 2020
We have been monitoring the CARES Act since it was proposed in Congress. And now it is finally here.
You might have been receiving many emails and information about this Act. We would like to give you some actionable items.
The good news is that the Small Business Administration (SBA) website is back! And with this, the online application for the Economic Injury Disaster Loan (EIDL), the first component of the CARES Act – Division A – 7(a) loan program, is now again available.
The better news is that the application process is now streamlined – COVID-19 ECONOMIC INJURY DISASTER LOAN APPLICATION – compared to the process that was on the platform last week, when we first looked into the application process.