US Senate Building

Senate Passes Bill to Support Small Businesses

The “Families First Coronavirus Response Act” (HR 6201) passed the Senate on Thursday, March 19th, extending greater protections to both employees and employers.

Click above for a Summary of the Congressional Action

HR 6201 tackles 3 critical areas for businesses with under 50 employees:

1. Requires:

  • Paid Sick Leave
  • Paid FMLA Leave (to care for children)

2. Expands:

  • Unemployment Insurance Eligibility

3. Promises:

  • Tax Credits to Employers (to help offset benefits costs)

LEARN MORE – CLICK HERE!

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OTHER BUSINESS CAPITAL / FINANCE OPTIONS – CLICK HERE!

IMPORTANT TIPS: 1) Document all payroll costs, and 2) Create line items for each Covid-19-related expense (i.e., time spent on extra meetings, additional supplies purchased, increased cost of benefits. technology-related coping expenditures, etc.). Doing so will make it clean and easy to request / receive loan forgiveness and tax exemptions down the road!

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