CARES ACT STATUS UPDATE
Updated- March 27, 2020
The stimulus plan passed in the Senate early Thursday morning apparently includes provisions for a portion of the CARES Act loan to be forgivable for companies up to 500 employees to help keep people on payroll. It also is proposing that these loans be made by SBA 7a lenders with a 100% guaranty from SBA.
The bill hasn’t passed the House (may vote today). Stay tuned for updates!