Small Business Guide to the Federal CARES Act
Mar 30, 2020
The KC Chamber wants to make sure Kansas City area businesses have every opportunity to get the federal relief funds they need to keep going and stay strong. The federal Coronavirus Aid, Relief, and Economic Security (CARES) Act allocated $350 billion to support small businesses as they work to keep their workforce employed during the coronavirus pandemic. Under the CARES Act, the Paycheck Protection Program provides 100% federally guaranteed loans to small businesses. These loans may be forgiven if borrowers maintain their payrolls during the crisis or restore their payrolls afterward.
We know our area small businesses have many questions about the loan availability, who is eligible, how much money you can borrow, how to calculate monthly payroll costs and more. With help from the US Chamber, the KC Chamber is providing you with this resource to help small businesses and self-employed individuals prepare to file for a loan. If you have additional questions and have not been able to participate in KC Chamber webinars on Small Business relief to date, please email Adam Timmerman, or call (816) 374-5486. The KC Chamber is working on more webinars ahead to help you through this, please stay tuned.