Atascadero Chamber of Commerce shares relief resources
–The Atascadero Chamber of Commerce has shared the following resources to help businesses and individuals impacted by COVID-19 closures:
Coronavirus Aid, Relief, and Economic Security Act (CARES Act)
Yesterday, the U.S. House of Representatives voted to pass the Coronavirus Aid, Relief, and Economic Security (CARES) Act. Having been signed into law shortly thereafter by President Trump, this critical legislation will provide emergency relief for American workers and businesses that have been impacted by the COVID-19 pandemic.
In response to the finalization of the bill, U.S. Chamber CEO Tom Donohue issued the following statement:
“Today, our elected representatives came together in a powerful way to provide the much-needed relief that American workers and businesses need and deserve during this unprecedented time. We applaud Congress and the administration for working together to enact the CARES Act on a strong, bipartisan basis. Securing these funds could make the difference between keeping a business up and running over the coming weeks or being forced to reduce salaries, lay off employees, or shutter businesses entirely. No family and no business should go bankrupt because of the financial hardships caused by the coronavirus.”
Click here to read the legislative analysis.
Financial resources for 501(c)(6) organizations
Although 501(c)(6) organizations were not included in the $350 billion Paycheck Protection Act loan program, they are eligible to apply for a loan through the SBA’s Economic Injury Disaster Loan (EIDL) program. To outline what is available to 501(c)(6) organizations through the EIDL program and the application process, the U.S. Chamber has created a one-pager available here.
For additional information on the EIDL program, visit the SBA’s webpage.
Financial resources for small businesses
The CARES Act has approved $350 billion in emergency loans for small businesses to help them keep workers employed. In fact, if small businesses maintain or later restore their payrolls, they may not have to repay some—or possibly any—of the loan. Utilize the U.S. Chamber’s Coronavirus Emergency Loans Small Business Guide and Checklist to help answer common questions and navigate the process.
Click here to download the guide.
Chamber call with the U.S. Small Business Administration
Join the chamber on Wednesday, April 1, 2020 at 1 p.m. ET for their next call with the U.S. Small Business Administration to discuss the impact of the coronavirus pandemic specifically on the small business community. The SBA speaker will discuss the non-profit loan process and the SBA’s EIDL program.
Weekly U.S. Chamber call with member chambers, trade associations
Join the U.S. Chamber of Commerce on Friday, April 3 at 4:00 p.m. ET for their next weekly coronavirus call with chamber and trade association members of the U.S. Chamber.
