March 27, 2020

Representation | Legislation | Advocacy

Senate Passes CARES Act:

Early Thursday morning, the U.S Senate unanimously passed the CARES Act, a $2 trillion-dollar COVID-19 response bill. The bill is intended to provide relief to individuals, small businesses, big corporations, hospitals and public health, state and local governments, education, as well as reinforce the federal safety net.

For a full break down of the bill, click here.

Governor Updates List of Critical Business:

Governor Jared Polis has updated his recent Stay-At-Home order. The update includes realtors and attorneys in the list of critical businesses that exempt from the order. The update also includes penalties for individuals who do not comply with the order, including fines up to $1,000 or imprisonment in a county jail for up to one year.

See a breakdown of "critical businesses" here.

To read the updated order, click here.

Senate COVID Relief Bill to Include Paycheck Protection and Loan Forgiveness:

The Senate’s COVID response proposal creates a new loan product within the Small Business Administration. These new Paycheck Protection loans can be utilized by businesses and 501 (c) (3)s with less than 500 employees, and can cover up to $10 million of payroll costs including costs related to group health care benefits, rent and utilities. The Senate proposal also allows for businesses that maintain payroll continuity from February 15-June 30, 2020 to request loan forgiveness on a Paycheck Protection loan that has been used on utility costs, payroll expenses, mortgage interest or rent.

For more information, click here.

Your Source for COVID-19 Business Information:

We know information is changing minute-by-minute!
Make sure to stay up to date with the latest business information regarding COVID-19 by checking out these valuable resources including financial assistance, employee assistance, and various community updates.

Click here!

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