In these challenging times, we have some good news.
Congress approved, and President Trump has signed, a $2 trillion Coronavirus stimulus bill to help small businesses and others coping with the COVID-19 pandemic.
The new legislation includes the “Keeping American Workers Paid and Employed Act,” which provides $350 billion in Small Business Administration (SBA) loans to assist employers who keep employees on payroll and pay rent and insurance premiums.
For more information, or to apply for a loan, please visit the SBA website.
If you decide to pursue an SBA loan, we encourage you to speak with a tax professional to better understand the implications for your business. Be well and stay safe.