The Federal Relief Program and Mitigating Risks During the Covid-19 Disaster
This article explores two issues relevant to small business today. First, the Federal Relief program for small business, and second a general framework for maintaining your small business during a disaster. I. The CARES Act and Existing SBA Relief Programs As we all work together to slow the spread of COVID-19, more of us are staying at home, reducing our spending, working from home, and temporarily shutting down or reducing the output of our small businesses. These efforts will help save countless lives during these uncertain times. The Federal Government has issued the largest private financial relief package, the CARES Act, in all of this nation's history to help small businesses adversely affected by the virus. In recent days, the Federal Government passed a second round of relief for small business which is slated to focus on mom and pop shops. The original CARES Act was signed into law on Friday, March 27, 2020, which includes, $376 billion in relief for Ameri...