The Coronavirus Aid, Relief and Economic Security (CARES) Act: An employer’s guide

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The Coronavirus Aid, Relief and Economic Security (CARES) Act is the $2 trillion federal stimulus package you’ve heard about in the media. Known more commonly as the CARES Act, the legislation was signed into law on March 27, 2020, and went into effect immediately.

Designed to address the economic and health impacts of the COVID-19 pandemic, the law provides relief for small- and medium-sized businesses facing unprecedented challenges.

About the CARES Act

In a nutshell, the new law:

Gives eligible small and medium-sized businesses and certain nonprofits a vital infusion of funds needed to remain in business, keep

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