The Small Business Guide To The CARES ACT

Study Notes are lessons from Sawyer to help you grow your business.

The Coronavirus Aid, Relief, and Economic Security (CARES Act) is Congress’s largest economic relief bill in U.S. history. This bill allocates $2.2 trillion in support of individuals and businesses impacted by the coronavirus pandemic and economic downturn.

The $2.2 trillion provides relief to the economy in a variety of ways — but the government has dedicated $377 billion specifically to small businesses. This amount breaks up into $10 billion for grants up to $10,000, $350 billion in loans from the Small Business Administration, and $17 billion towards relief for existing SBA loans. These funds are designed to help prevent layoffs and closures for companies of 500 employees or fewer. Under this act, the government can provide relief to many of the small educational businesses and programs that we are privileged to work with here at Sawyer.

We’ve rounded up the best resources to help you navigate the details of the CARES Act.

The following questions can help you explore the right options for your business

Are you looking for funding to cover the cost of keeping your employees?
Read more about the Paycheck Protection Program.

Do you need a fast infusion of cash (under $10,000) to help you cover immediate expenses?
Read more about Emergency Economic Injury Grant.

Are you worried about making existing payments on an SBA loan or adding additional debt?
Read more about the Small Business Debt Relief Program.

Are you unsure if you qualify or what you will need to get started?
Read more about the Coronavirus Emergency Loans Small Business Checklist.

Need a break from the daily grind? Here are things that are making us smile

Some Good News with John Krasinki
If you aren’t currently watching Some Good News with John Krasinki, you’re missing out! Sure to put a smile on your face and celebrate the amazing acts of kindness and togetherness in the world.
Ice cream subscriptions
I scream, you scream, we all scream for ice cream! When Sawyer provider Sugar Hill Creamery was no longer able to keep their scoop shop open for workshops, parties, and walk-in service, they came up with a brilliant option for loyal customers. They now offer a weekly ice cream subscription that brings smiles and scoops for days — sign us up!
Small business heroes
Hear inspiring stories of small businesses that are venturing into new territories and being met with kindness, compassion, and an overwhelming sense of community.
Extracurriculars (for adults)
Tired of the usual screenshare? We’ve been extending the learning at home with free streaming stories from Audible and exploring these 10 museums virtually.
Zoom background switch ups
Get ready to jazz up your meetings and virtual classroom style! We’ve been collecting so many designs from Canva’s free Zoom background templates and Disney’s Pixar designs.
Grounding podcasts
If you’re not familiar with Brene Brown’s new podcast Unlocking Us, this is a must listen for parents and educators processing this new normal.