In response to the current Coronavirus situation, President Trump signed into law the CARES Act, which among other things, brings several relief measures to businesses with less than 500 employees including independent contractors, corporations, and nonprofit organizations. Some of the stimulus appropriated for small businesses include assistance in:
- Payroll and related expenses
- Mortgage Payments
- Debt service
- and more.
Navigating the requirements may be complex. With adequate compliance, in many cases, some of the loans provided through the CARES Act are 100% forgivable. The relief provided is limited and on a first come first serve, for which we encourage swift action. If you own a business, are part of a nonprofit organization or are an independent contractor, we invite you to schedule a free consultation with us at SosaArvelo.com/virtual to see if you qualify. We are here to guide you through the steps to benefit from Coronavirus relief through the CARES Act.