Helpful Resources for COVID-19 Relief and the CARES Act
It seems like things are changing every day with the COVID-19 (coronavirus) pandemic affecting the stock market, a majority of business industries and millions of American workers. We don’t know how long these widespread shutdowns will last, or how long it will take the economy to recover from this devastating series of events. What we do know is we are all in this together and having good information about COVID-19 relief resources so helpful as we try to get through this situation.
The $2 trillion CARES Act (Coronavirus Aid, Relief and Economic Security Act) that was recently passed by the senate. People have a lot of questions and there is a lot of confusion about what this financial stimulus package entails. It is meant to provide support across a broad range of categories, from the largest corporations down to individual taxpayers who might be struggling to get by financially during this crisis.
In this post, I simply want to provide a list of useful resources that I have found. These are articles and links that will offer some more answers to your important questions, and we will do our best to update this list as needed. In subsequent Illumination Wealth Blog posts, we will be diving deeper into some of these resources and topics to provide additional information and insight from a financial planning perspective. We encourage you to check back from week to week and please let us know if there are any specific topics that you would like to learn more about.
As always, if you have financial questions, the team at Illumination Wealth is here to help. Contact us if you want to set up a time to talk.
COVID-19 Resources for Business Owners and Workers
About the CARES Act:
What’s Inside the Senate’s $2 Trillion Coronavirus Aid Package:
https://scalingup.com/wp-content/uploads/2020/03/CARES-Section-by-Section-Scaling-Up-.pdf
California Business Relief & Employee Resources:
California’s Executive Order & the Families First Coronavirus Response Act
https://illuminationwealth.com/federal-state-governments-act-help-lessen-impact-covid-19/
COVID-19 Small Business Resiliency Fund
https://oewd.org/covid-19-small-business-resiliency-fund
Economic Assistance for San Diego Businesses Affected by COVID-19
https://www.sandiego.gov/economic-development/resources/relief
Resources for San Francisco Businesses and Employees Impacted by COVID-19
https://oewd.org/assistance-guidance-businesses-and-workers-impacted-covid-19
City of Los Angeles Business Support
http://www.la15th.com/small_business_support
City of Sacramento Coronavirus Employer and Employee Resources
http://www.cityofsacramento.org/covid19-relief
National Business Relief Resources:
Government Relief Programs for Small Businesses Affected by COVID-19
Small Business Administration (SBA) Loans and Disaster Assistance Loans:
Small Business Loans Under the CARES Act
Payroll Protection Program
https://bench.co/blog/operations/paycheck-protection-program/
SBA Loan Program Changes
https://www.hsccpa.com/cares-act-passes-senate-tentative-sba-loan-program-changes/
Disaster Loan Assistance
https://disasterloan.sba.gov/ela/
Unemployment Benefits:
Expanded Unemployment Benefits with the CARES Act