It's becoming more clear each day that the COVID-19 crisis is a marathon not a sprint. Governor Cuomo has extended the work from home orders for nonessential businesses until April 15. President Trump has extended social distancing guidelines through April 30.
Concerned about the economy, Congress pushed through the CARES Act late last week and President Trump signed it into law. The $2 trillion stimulus package includes small business loans and aid to workers.
Many Americans will receive direct payments of up to $1,200, plus $500 per child. The payments phase out at individuals making more than $99,000 and couples making more than $198,000.
The
CARES Act
also includes:
*Expanded unemployment benefits for up to four months plus $600/week in addition to state benefits
*Billions for hospitals and veterans' health care
*Billions in loans to small businesses.
What you spend on payroll, utilities or rent doesn't have to be repaid.
The small business loan program will be up and running in the coming week while workers can expect their money in the form of direct deposits or checks in about three weeks.
A guide to the emergency loans and a summary of the stimulus package are included in the links below, along with other informative links.
As always, the Chamber is here to answer any questions at info@amherst.org.
Let us know how we can help.
Stay well and remember, we are all in this together.
Need help with SBA Disaster Loan Application?
Call 1-800-659-2955 or email: disastercustomerservice@sba.gov
