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Coronavirus Aid, Relief, and Economic Security Act ("CARES Act")

The Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”) was passed to provide fast and direct economic assistance for American workers, families, and small businesses. The CARES Act is the third stimulus bill aimed at providing relief to employers and individuals affected by COVID-19.

There are several sections of the CARES Act designed to offer financial support to businesses. Below is a brief summary of some of those portions. Businesses should work with an experienced financial advisor to carefully review assistance programs in order to evaluate the interaction between the available options and determine the best option for their specific circumstances.

Paycheck Protection Program

Deferral of Employer Social Security Taxes

Employee Retention Credit for Employers Subject to Closure Due to COVID-19

Additional Resources

     SBA Disaster Assistance

     Small Business Guidance & Loan Resources

     US Department of Treasury
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