US Congress passes $2 trillion coronavirus stimulus package for individuals, small business and nonprofits

US Congress passes the $2 Trillion Stimulus (CARES) Act March 27, 2020 which sets aside $349 billion for small businesses and nonprofits. Download COVID Toolkit

There are two basic programs:

  • Paycheck Protection Program (PPP) - you will need to apply via your bank under A-7 loans.  The government will forgive portions of the loan up to 2.5 months of salaries, rent, and utilities. Note it’s easier to apply for the PPP Loan with your business bank. Download PPP Sample Calculation

  • COVID-19 Economic Injury Disaster Loan (EIDL) - you must apply through the SBA centers. $10,000 in outright grant and low interest 30 years loan without the need for collateral. Apply here

For Individuals and Families:

  • More laid-off and furloughed workers than ever before (including those new to the job market) will be eligible for Unemployment Insurance and will see an additional $600 per week to match the average paycheck for up to 4 months of benefits. These benefits will be available immediately. Download Supplemental Unemployment Compensation 

  • Residents seeking more information about UI benefits should contact their state unemployment insurance program. For a list of unemployment offices by state please click here

  • Download CARES Act Rebates FAQ_0 $1,200