The U.S. Senate approved $484 billion in financial assistance and funding for various programs on April 21, 2020, including the small business loan programs launched and expanded by the CARES Act. The House is expected to follow suit as soon as April 23.
It isn't just the federal government throwing an economic lifeline to small businesses, like those in the insights business, harmed by the COVID-19 crisis. Private entities are launching relief efforts also.
The CARES Act -- the $2 trillion spending law approved on March 27, 2020 to help grapple with the economic damage from the COVID-19 crisis – included the creation of a new lending program to help small to mid-size businesses, dubbed the Main Street Lending Program.
The insights industry, like most others, faces a liquidity problem from the COVID-19 pandemic, so IA wanted to share this overview from an accountant and financial advisor of the new CARES Act provisions for retirement savings accounts that might help some of our members.
Thanks to Adam Froman of Delvinia, the Insights Association is pleased to share resources for our Canadian members facing down the economic fallout from the COVID-19 crisis.
One of the new loan programs launched by the Coronavirus Aid, Relief, and Economic Security (CARES) Act -- the $2 trillion spending law approved on March 27, 2020 -- that may be of interest to Insights Association members seeking relief during the COVID-19 economic crisis is the Paycheck Protection Program (PPP).
The Insights Association recently contacted the U.S. Treasury Department and the Small Business Administration (SBA) about a potential inequity in eligibility for the new small business emergency loan programs enacted in the CARES Act that could impede access for some insights companies.