Analyses detail CARES Act SBA program

Mar 30, 2020

New analyses from the Economic Innovation Group and the Independent Bankers Association of Texas detail the CARES Act's ICBA-advocated Paycheck Protection Program, which provides relief for small businesses affected by the COVID-19 outbreak.

The program provides $349 billion in new lending capacity to be administered by the Small Business Administration under its 7(a) lending program. The program is designed to help small businesses cover their near-term operating expenses during the worst of the crisis and provide a strong incentive for employers to retain their employees.

Meanwhile, ICBA offers a summary of the key provisions in the law and continues developing resources to provide additional details.