Insights
Coronavirus Aid, Relief, and Economic Security (CARES) Act
The Coronavirus Aid, Relief, and Economic Security (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. Importantly, these loans may be forgiven if borrowers maintain their payrolls during the crisis or restore their payrolls afterward.
Fed $2.3 Trillion Program
The Federal Reserve announced on Thursday April 9 that it will inject another $2.3 trillion to prop up the American economy through a series of initiatives that will extend its reach to small and midsize businesses, as well as state and municipal governments.
NC COVID-19 Rapid Recovery Loans
Loans are available for North Carolina-based businesses.
Economic Injury Disaster Loan
SBA’s Economic Injury Disaster Loans (or working capital loans) are available to small businesses, small agricultural cooperatives, small aquaculture businesses and most private non-profit organizations.