Micah SolomonSenior Contributor
Customer service consultant, keynote speaker. firstname.lastname@example.org
Congress did something unprecedented this week in terms of direct financial assistance for small and medium-sized businesses. There’s very little paperwork involved, the upside is impressive, and this article will tell you how to take advantage.
Specifically, under the new CARES (Coronavirus Aid, Relief and Economic Security) Act, your business may be eligible for two separate loans. One of these loans is 100% forgivable if used for its intended purpose, and the other loan includes a $10,000 component that’s intended to be forgivable in full. These programs are designed for businesses with fewer than 500 employees, although in a carve-out for the hard-hit hospitality industry, hotel chains are allowed to have up to this number of employees per location.
Two updates/clarifications, in answer to questions that have come in since