CARES Act Stimulus Will Permit Business Loans To Cover Payroll, Expand Unemployment

March 27, 2020
Source: www.fisherphillips.com

 

Businesses struggling with the economic impact of the COVID-19 pandemic crisis received good news late last night when the Senate passed an unprecedented piece of legislation aimed at providing a massive stimulus to workplaces and employees alike. The centerpiece of the Coronavirus Aid, Relief and Economic Security (CARES) Act would allow small- and medium-sized businesses to receive federal loans – in some cases forgivable – to cover payroll and other expenses.

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