Below please find a succinct summary of the federal $2 trillion CARES Act as it pertains to small businesses (those with fewer than 500 employees) and nonprofits that will be available in the very near future. NOTE: If you have difficulty opening the links, copy them into a browser – e.g. Google Chrome, Internet Explorer, Safari.
Summary of CARES Act for Small Businesses and Nonprofit Organizations:
The Payroll Protection Program (PPP) money, which is discussed in the above summary, is going to be funneled through local banks which are approved SBA 7(a) lenders (see list below).
List of Approved SBA 7(a) lenders in CT:
https://www.sba.gov/sites/default/files/resource_files/CT_Participating_Lenders_May_2018.pdf
If you have any questions regarding these materials, please reach out to your GBA contact and they will assist in getting you the answers or getting you to the person who can help.
We will be continually updating you on how to access coronavirus information, financing, and other crucial materials.
