QAI is dedicated to supporting our clients as they face challenges resulting from the COVID-19 pandemic. In that spirit, we are sharing access to Financial Stimulus Options and Cash Management Strategies, a new webinar recently provided by the Organic Trade Association (OTA), an industry and legislative advocacy group. View the webinar on-demand.
Here’s a quick recap: Your business may qualify for financial relief from the Coronavirus Aid, Relief, and Economic Security (CARES) Act. The Small Business Administration (SBA) created several new programs to provide financial relief to small businesses, co-ops, nonprofits and farms.
Of particular interest is the Paycheck Protection Program, a loan designed to provide an incentive for small businesses to keep their workers employed during the COVID-19 crisis. The SBA will forgive loans if all employees are kept on the payroll for eight weeks and the money is used for payroll, rent, mortgage interest or utilities.
To find out if your small business is eligible –and roughly how much it might receive – download this CARES Act for Small Businesses flow chart. Also download this overview of CARES Act and SBA program offerings.
On April 15 at 2 p.m. ET, the OTA will host Financial Relief for Farmers, another COVID-19 webinar for farmers, ranchers, and producers to learn about new and existing aid programs designed specifically to assist them. Katie Naessens, Senior Professional Staff at the United States Senate Committee on Agriculture, Nutrition, and Forestry, will discuss the provisions in the CARES Act designed to benefit agricultural operations. Attendees will also learn about administrative actions USDA has taken to provide relief for farmers, how it will implement the CARES Act, and existing programs available to farmers at this time.