Relief Available to Contractors Under the CARES Act
The Coronavirus Aid, Relief, and Economic Security (CARES) Act provides several programs, such as the Paycheck Protection Program (PPP), a forgivable loan, and the U.S. Small Business Administration’s (SBA) low-interest federal disaster loan program, which are a lifeline for small businesses and inject capital just when it’s needed most.
KSM experts joined a representative from First Merchants Bank to discuss various relief options available to contractors under the CARES Act. Topics covered in the webinar include:
- Overview of SBA loan programs available
- Overview of amounts to be included in loan calculation for contractors
- Loan forgiveness
- Lenders’ process of approving applications
- Lenders’ insight into early days of application receipts
- Recommendations and best practices on submitting completed applications
- Frequently asked questions
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