CARES ACT FAQ

 The coronavirus relief package, the Coronavirus Aid, Relief, and Economic Security (CARES) Act, is the largest economic relief bill in U.S. history and will allocate $2.2 trillion in support to individuals and businesses affected by the pandemic and economic downturn. Many people have questions about how the new law impacts their families and businesses.  NAELA has compiled some basic resources and faq's to help our members navigate resources available, and will continue to add to this page as the information becomes available.  If you are a current NAELA member and have any specific questions that you can't find answers for, let us know by emailing us at naela@naela.org

For information about the  expanded FMLA or the Families First Coronavirus Response Act  click here

The Paycheck Protection Program prioritizes millions of Americans employed by small businesses by authorizing up to $349 billion toward job retention and certain other expenses
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Economic Injury Disaster Loan
provides small businesses with working capital loans of up to $2 million  to help overcome the temporary loss of revenue they are experiencing..
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Economic Injury Disaster Advance 
this loan advance will provide up to $10,000 of economic relief to businesses that are currently experiencing temporary difficulties.
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Employee Retention Payroll Tax Credit
fully refundable tax credit for employers equal to 50 percent of qualified wages (including allocable qualified health plan expenses)

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Delay of Payroll Tax Remittance
delays the payment of employer-paid social security for payroll from 3/27/20 to 12/31/20. Self-employed individuals can also delay the tax payment

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GENERAL FAQ's

Learn how to apply for loans and other general
information


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Decision Tree

This may be a helpful tool to help you decide what resources to apply for