As we head into four more weeks of the COVID-19 crisis, businesses everywhere, but especially small businesses, are feeling the pressure. Across the country and the world, small businesses are facing hard decisions when it comes to lay-offs, paying the bills, reduced workforce, and incoming revenue. 


Small businesses in this unprecedented situation are being hit particularly hard. Many of you small business owners may even be wondering if your business will be able to withstand this crisis and ever fully recover, with the possibility of the U.S. economy possibly heading into a recession. 


However, in this time of crisis, there is a beacon of light! The CARES Act, that has been recently signed into law, provides a much-appreciated financial support system for struggling individuals and businesses. And small businesses are included too!


Check it out!


What is the CARES Act?


As you may be aware, Congress passed and the President signed into law H.R.748, The CARES Act, on March 27th, 2020. This historic signing followed a unanimous vote in the Senate and nearly the same in the House of Representatives. 


The CARES Act is designed to provide financial relief to businesses and individuals during this Corona Crisis. And, there’s a special consideration for small businesses in the bill as well. 


How the CARES Act Impacts Small Businesses


According to Forbes, “$350 billion is being dedicated to preventing layoffs and business closures while workers have to stay home during the outbreak. Companies with 500 employees or fewer that maintain their payroll during coronavirus can receive up to 8 weeks of cash-flow assistance. If employers maintain payroll, the portion of the loans used for covered payroll costs, interest on mortgage obligations, rent, and utilities would be forgiven.”.


Over the weekend, we at Cazbah took the time to comb through and do a close reading of H.R.748. Our goal was to come away with a very clear understanding of what the benefits to our clients and friends (small businesses and their employees) was specifically. 


To put it mildly, the benefits are significant! Check out our informative PDF summary of two of the main elements you NEED to be aware of, that will impact your small businesses the most. 


They are:


  • The Paycheck Protection Program 
  • Loans and Loan Forgiveness


In the simplest of terms, small businesses are eligible for a forgivable loan of up to 2.5X their average payroll costs and other approved expenses, a summary of which you will find in the attached document. 


Forgiveness of the loan is based on how the loan proceeds are used. To receive forgiveness of the SBA loan, the small business must use the loan to cover payroll (wages, benefits, retirement,etc.), rent/mortgage payments and utilities. The forgiveness of the loan is also based on maintaining (or rehiring) your current employees. 


It is important to note, the information contained in our Cazbah presentation is provided for informational purposes only, and should not be construed as legal or financial advice on any subject matter. You should not act on the basis of any content included in this presentation without seeking legal or other professional advice.


Crisis-Proof Your Small Business


How are you crisis-proofing your small business?


As we continue to work through this trying time, the need for well developed, online websites for small businesses is now more apparent than ever! If a prospect or customer can’t visit your store or physical location, where else can they go to get the information they need or order the products or services they want?


If you want your small business to grow and remain successful, you NEED to have a well-developed website. A small business website is the central hub of your long-term success. Your website won’t ever have to shut down because of a health crisis and you won’t ever have to layoff your website because you had to temporarily close your store. Your website is a never-sleeping salesperson that will never stop working to bring you business!



To assist you in crisis-proofing your small business, we’ve put together an helpful article with valuable resources and links on website topics you need to be aware of. Check it out here


And as always, please check out our “Blog” tab for great articles and our “Resources” tab where you can find informative videos, infographics, case studies, and more! 


In Conclusion


The CARES Act could save your small business! The benefits of the CARES Act for small businesses are substantial.  We sincerely hope that this substantial financial effort, on the part of the US Government, will aid American small businesses in their recovery from the COVID-19 pandemic. Most of all, we hope that this small effort on Cazbah’s part will aid our clients and friends in processing the information necessary to qualify and apply for the loan programs currently available through the SBA.