The CARES Act includes the following provisions:

• The Act includes nearly $350 billion for a federal small business loan program called the Paycheck Protection Program. The program is designed to get cash in the hands of suffering small businesses quickly, with less stringent eligibility requirements than the existing U.S. Small Business Association (SBA) loan programs. Paycheck Protection Program loans are designed to incentivize business owners to keep employees on payroll.
• In addition to businesses already eligible for SBA programs, most businesses with 500 or fewer employees are now eligible for disaster loans of up to $2 million for working capital. Those businesses will also be eligible for an emergency cash advance of $10,000 within days of making the application, which is not repayable even if their loan application is denied.

Below you will find an overview of the eligibility requirements, key loan terms, and how to apply for each program.

CARES Act – Small Business Loan Overview

Paycheck Protection Program Employer Application

Paycheck Protection Program Information Sheet for Borrowers