On March 27, 2020, President Trump signed into law the Coronavirus Aid, Relief and Economic Security (CARES) Act, which provides relief to taxpayers affected by the novel coronavirus (COVID-19). Please find attached information about the two loan programs recently implemented through Small Business Administration (SBA): Economic Injury Disaster Loans (EIDL) and Paycheck Protection Program (PPP).
These programs are aimed to soften the economic impact from COVID-19. Companies may borrow up to 2 – 10 million dollars under these programs.
