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4. The 411 On The CARES Act Support for Small Businesses and Nonprofits

The 411 On The CARES Act Support for Small Businesses and Nonprofits

April 3, 2020

One of the landmark provisions of the CARES Act, the $2 trillion coronavirus stimulus package signed into law on March 6, 2020 is a new loan program that is designed to ensure small businesses can continue paying employees during this unprecedented economic disruption. Another provision expands eligibility for the Small Business Administration’s Economic Injury Disaster Loans.

As details continue to trickle out about how these and other new programs will work, small businesses, nonprofits and others are struggling to understand whether they qualify — and how to apply.

Join Next City senior economics correspondent Oscar Perry Abello as he discusses the in and outs of the CARES Act.