House passes CARES Act with Relief for Small Business Owners
Miami, FL – Today, the House passed the Coronavirus Aid, Relief, and Economic Security (CARES) Act in response to the COVID-19 crisis. The legislation contains several provisions to provide aid to small businesses devastated by the public health crisis.
Congresswoman Wilson has advocated for solutions to curb both the health and economic impacts of this unprecedented virus, including relief for small businesses to help them weather this storm. The CARES Act, which was passed with bipartisan support and has been signed by the president, provides federally guaranteed loans to employers who maintain their payrolls during the pandemic, immediate relief to small businesses with non-disaster SBA loans and microloans, and an emergency advance of up to $10,000 to small businesses and private non-profits adversely impacted by COVID-19.
A summary of the provisions for small businesses in the CARES act can be found here.