In the massive CARES Act, being debated today in Congress, a key part of the legislation is a proposal by Senator Susan Collins to provide forgivable loans to small businesses.
The legislation proposes:
• Loans to businesses to help pay for payroll to keep employees on staff
• Health insurance payments if the employer had a plan in place before the closure.
• Help to pay for mortgages, rent or utilities for the business owner. (The business would not be required to stay open to keep their employees on payroll.)
More details here: