We know times are difficult for many Veteran’s Business Enterprises. To help business owners and entrepreneurs better understand the new programs that are no or will soon be available to them through the Coronavirus Aid, Relief, and Economic Security (CARES) Act that was just passed by Congress, we wanted to share a quick summary with links to help folks find the help they need.
Struggling to get started? The following questions might help point you in the
right direction. Do you need:
• Capital to cover the cost of retaining employees? Then the Paycheck
Protection Program might be right for you.
• A quick infusion of a smaller amount of cash to cover you right now? You
might want to look into an Emergency Economic Injury Grant.
• To ease your fears about keeping up with payments on your current or
potential SBA loan? The Small Business Debt Relief Program could help.
• Just some quality, free counseling to help you navigate this uncertain
economic time? The resource partners might be your best bet.
In addition, the U.S. Senate Committee on Small Business & Entrepreneurship has created a comprehensive guide to many of the small business provisions outlined in the Act. These programs and initiatives are intended to assist business owners with whatever needs they have right now.
When implemented, there will be many new resources available for small businesses, as well as certain non-profits and other employers. This guide provides information about the major programs and initiatives that will soon be available from the Small Business Administration (SBA) to address these needs, as well as some additional tax provisions that are outside the scope of SBA.
To keep up to date on when these programs become available, please stay in contact with your local SBA District Office, which you can locate here.