Skip to main content
Personal Insurance

The Coronavirus Aid, Relief and Economic Security Act, CARES Act for Small Businesses

By April 7, 2020 No Comments

PAYCHECK PROTECTION PROGRAM & EIDL GRANTS

If you are a small business and suffering from the effects of COVID-19 societal shutdown, The CARES Act may help you. I’ve attached a graph below to help you examine the option if your small business may benefit from one or both programs.

The EIDL Grants stand for “Economic Disaster Loan”; a low-interest, fixed rate loan up to $2 million.

The Paycheck Protection Program (PPP) is to help small businesses maintain their payroll and stay afloat during the COVID-19 pandemic. If an employer uses the money to maintain their payroll, the loan is forgiven.

Click on the link to see if your small business is eligible.     Small Business Loans – COVID-19 relief

Here are some other helpful links to help stay connected and updated:

Governor Mike DeWine (daily 2pm)

Governor Mike DeWine’s official website

Official Ohio Coronavirus website

Dr. Amy Acton, Director of ODH