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U.S. Department of Treasury Provides Additional Resources for Small Businesses Impacted by COVID19

The Automotive Service Association was notified by the White House that additional information for small businesses regarding the Coronavirus Aid, Relief, and Economic Security (CARES) Act has been posted on the U.S. Department of Treasury website. The Department of Treasury in conjunction with the U.S. Small Business Administration to provide relief to small businesses through the Paycheck Protection Program.

SBA Administrator Jovita Carranza stated, “This unprecedented public-private partnership is going to assist small businesses with accessing capital quickly. Our goal is to position lenders as the single point-of-contact for small businesses – the application, loan processing, and disbursement of funds will all be administered at the community level.”

To read the full press release, click here.

To learn about the program and the application process, click here.