MERCHANT RELIEF PROGRAM
Help for business owners during the Covid-19 pandemic crisis.
CORONA VIRUS AID, RELIEF, AND ECONOMIC SECURITY ACT (CARES)
Altiras Advisors is here with you, every step of the way, throughout this challenging time. We have identified the following fiduciary institutions that can help business owners immediately apply for relief funds through the CARES Act.
Economic Injury Disaster Loan Emergency Advance
This loan advance will provide up to $10,000 of economic relief to businesses that are currently experiencing temporary difficulties. The SBA’s Economic Injury Disaster Loan provides vital economic support to small businesses to help overcome the temporary loss of revenue they are experiencing as a result of the COVID-19 pandemic. This program is for any small business with less than 500 employees (including sole proprietorships, independent contractors and self-employed persons), private non-profit organization or 501(c)(19) veterans organizations affected by COVID-19. The Economic Injury Disaster Loan advance funds will be made available within days of a successful application, and this loan advance will not have to be repaid. To apply for a COVID-19 Economic Injury Disaster Loan and loan advance, click here.
What is the CARES Act?
The Coronavirus Aid, Relief, and Economic Security (CARES) Act allocates $350 billion to help small businesses keep their workers employed amid the economic changes caused by COVID-19. Known as the Paycheck Protection Program, the initiative provides 100% federally guaranteed loans to small businesses. Importantly, these loans may be forgiven if borrowers maintain their payrolls during the crisis or restore their payrolls afterward. Below is a list of lenders offering loans under the program (more will be added as we identify participating lenders and contacts).