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What You Need to Know About the Coronavirus Stimulus Package

Micki Wagner

On March 25, the Senate approved a stimulus package intended to help those struggling financially due to the coronavirus outbreak. The bill will go to the House next, which is supposed to vote on the relief plan this Friday.

“You need to protect your cashflow,” Kathleen Entwistle, senior vice president of UBS, said during Worth’s digital roundtable, “Perspectives from the Front Line,” on Thursday. “Right now, just take care of your interest payment, your debt service. Just find ways to leverage liquidity.”

Related The Creative Ways Businesses Are Helping Their Communities Now

Entwistle also advised small businesses to take advantage of what the government is offering. So, Worth has compiled resources on the stimulus package and everything you need to know about how small businesses will be impacted.

Where can I read the bill in full?

You can find a PDF of the Coronavirus Aid, Relief and Economic Security (CARES) Act here.

What’s all covered in the stimulus package?

This landmark bill is intended to aid those struggling financially in the wake of the coronavirus crisis, including families and small businesses. See an outline of everything that will be covered here.

If passed, what businesses will be eligible to apply for loans and how can they apply?

The $2 trillion relief package will provide $349 million to the U.S. Small Business Administration in order to provide loans to small businesses across the country. Find out about these small businesses loans here.

How can small businesses make the most of the government funding and how can they start attracting more business again?

In times such as these, it’s normal to feel deeply concerned about how to pivot your business strategy to work in this stay-at-home climate. Explore some strategies for driving business right now here.

Have a question about the coronavirus outbreak’s effect on business and the economy? Email submit@worth.com so we can provide the best content for you and your business.  

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