The Latest & Greatest on the CARES Act & FFCRA-The Latest & Greatest on the CARES Act & FFCRA

Video Transcription

Video Summary

This webinar provided an update on the CARES Act and the Family First Coronavirus Response Act. The discussion covered various topics including the Paycheck Protection Program (PPP), the Main Street Lending Program, and the Economic Injury Disaster Loan (EIDL) program. The panelists explained that the PPP is a forgivable loan available to businesses with less than 500 employees, while the Main Street Lending Program is aimed at mid-sized businesses with up to 10,000 employees. The EIDL program provides loans for companies affected by the COVID-19 pandemic. The panelists also discussed the eligibility criteria and the requirements for these programs, as well as the restrictions and guidelines for loan forgiveness. They highlighted the importance of accurate record-keeping and proper documentation to ensure the forgiveness of funds. The panelists also addressed questions from participants, clarifying topics such as employee compensation, rent payments, and the use of funds. Overall, the webinar provided valuable information and updates regarding the assistance available to businesses under the CARES Act and the Family First Coronavirus Response Act.

Keywords

CARES Act

Family First Coronavirus Response Act

Paycheck Protection Program

Main Street Lending Program

Economic Injury Disaster Loan

forgivable loan

eligibility criteria

loan forgiveness

record-keeping

documentation