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CARES Act and Hospitality

Posted By HM Staff , Monday, March 23, 2020
Updated: Monday, March 23, 2020

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: 

 

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