The CARES Act — aka the Coronavirus Aid, Relief, and Economic Security Act — passed on Friday will pump $2 trillion into the American economy in an effort to mitigate the economic downturn caused by the coronavirus pandemic.
So, what should startups and other small businesses know about accessing part of its $349 billion earmarked to help them avoid layoffs via the Paycheck Protection Program?
You could read the full text yourself, but if you only have an hour and want the biz-specific overview, do yourself a favor and watch the latest edition of Dreamit Ventures‘#DreamitLive interviews, in which Managing Partner Steve Barsh talks with Bullpen Capital General Partner Duncan Davidson about the relief bill’s nitty-gritty details.
The VC expounds on topics such as:
- Who is even qualified to access this funding?
- How much will the loans be worth?
- How do furloughs play into all this?
- When will the cash hit? (Mid-May, predicts Davidson.)
Catch the full video here: