The CARES Act (Coronavirus Aid, Relief Economic Security Act)


The programs and initiatives in the Coronavirus Aid, Relief, and Economic Security (CARES) Act that was just passed by Congress are intended to assist business owners with whatever needs they have right now. When implemented, there will be many new resources available for small businesses, as well as certain non- profits and other employers.

To keep up to date on when these programs become available, please stay in contact with your local Small Business Administration (SBA) District Office, which you can locate here.


Businesses (including sole props & self-employed) & nonprofits except those with Medicaid funds and:

  • With fewer than 500 employees (subject to the limited exceptions); or
  • That meet the Small Business Administration’s (“SBA”) industry- based “size standard” requirements for the applicable NAICS code (based either on number of employees or annual receipts).

Must have been "substantially affected by COVID-19," which is described as:

  • Supply chain disruptions
  • Staffing challenges
  • a decrease in sales or customers; or
  • Shuttered businesses
Loan Duration & Amount:

With a maximum maturity of 10 years, the amount to be the lesser of (a) $10 million or (b) 2.5 multiplied by the average total monthly payments by the applicant for payroll, mortgage payments, rent payments, and payments on any other debt obligations incurred during the 1 year period before the date on which the loan is made. Note (b) above is different for newer companies or those with seasonal employees.

Allowable Use:
  • Payroll support, including paid sick, medical, or family leave, and costs related to the continuation of group health care and retirement benefits during those periods of leave;
  • Employee salaries (up to $100k annual salary);
  • Mortgage payments;
  • Rent (including rent under a lease agreement);
  • Utilities; and
  • Any other interest on debt obligations that were incurred before the covered period (excludes payment of principal)
  • Refinance an existing Economic Injury Disaster Loan

Apply for an Economic Injury Disaster Loan