Part One: Economic Relief for Small Businesses
As the United States continues to grapple with the appropriate way to fight the spread of COVID-19 and protect those most susceptible to the virus, the federal government has overwhelming expressed its support of businesses across America by passing the CARES Act or H.R. 748. This bill opens more than $2 trillion in response to fighting both the health and economic effects of coronavirus.
If you are a small company, sole proprietor or nonprofit organization with fewer than 500 employees and have experienced interruption to regular business operations due to the COVID-19 pandemic, your organization may qualify for up to $10 million of assistance from the federal government under the CARES Act.
Colliers has provided a breakdown of the aspects of this bill as well as resources to check you eligibility so those economically affected by the spread of COVID-19 can understand their rights and take advantage of this stimulus package from the government.