• Vacation pay

  • Group healthcare benefits

  • Interest on mortgage and other debt obligations incurred before Feb. 15, 2020

  • Local employment taxes

  • Does the CARES Act Change Other SBA Lending Programs?

    It certainly does. In addition to the Payroll Protection Program, the CARES Act has a direct and powerful impact on other SBA lending programs — and independent financial advisors should know about these alternatives.

    For one thing, the SBA’s Express Loan program has increased maximum loan amounts to $1 million from $350,000. 

    Business Owners Should Also Consider an SBA Disaster Loan

    Most interesting to small business owners looking for immediate support for their efforts around business continuity may be the SBA’s Emergency Economic Injury Disaster Loan — which CARES has altered through September 30 in the following ways.

    • Borrowers don’t have to put up personal guarantees for loans under $200,000 

    • Borrowers aren’t required to have been in business for at least a year. 

    • Borrowers don’t have to demonstrate they can’t get credit elsewhere.