CARES Act Overview for Businesses

professional profile

April 06, 2020

by a professional from St. John's University in Minneapolis, MN, USA

The Coronavirus Aid, Relief, and Economic Security Act (CARES Act) represents the third phase of Congress’s legislative efforts to address the financial and health care crisis resulting from the coronavirus (COVID-19) pandemic. In addition to providing relief to individuals and mustering forces to shore up the medical response, the CARES Act includes numerous provisions intended to help affected businesses, including eligible self-employed individuals, weather the crisis. Click here for an overview of the CARES Act for businesses.

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Reply by a searcher
from Concordia University in Toronto, ON, Canada
Ryan, Do you know whether a US business owned by a non-resident is eligible to receive the fundings, the PPP or EIDL?
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Reply by a professional
from St. John's University in Minneapolis, MN, USA
From our understanding foreign owners do not matter for either of these programs. We look to the residence of the employees. If the Company has less than 500 employees that work in the US, then you should be able to apply.
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