The Creation of the Paycheck Protection Program Under the Cares Act, as Well as the Expansion of Other Key SBA Programs, Should Help Small Businesses and Contractors Weather the COVID-19 Storm
As the impact of COVID-19 continues throughout the construction industry, many businesses are finding it difficult to make payroll and pay other essential business expenses. Fortunately, help is on the way through the passage of the Coronavirus Aid, Relief and Economic Security Act (CARES Act), which provides more than $2 trillion in stimulus to the U.S. economy. This article focuses on the newly enacted SBA Paycheck Protection Program, which aims to keep workers employed and small businesses afloat.