On March 27, President Trump signed the Coronavirus Aid, Relief and Economic Security (CARES) Act into law. You are probably aware that many taxpayers will be receiving a $1,200 recovery rebate check, but Congress also made tax changes for both individuals and businesses to help stabilize the economy and earmarked $349 billion for loans to small businesses and some nonprofits with fewer than 500 employees.

These relief provisions will help bridge the financial gap caused by loss of revenue, loss of productivity due to layoffs, increased supply costs, and paid leave requirements.
NAHB staff experts will be reviewing the programs established by the CARES Act to help small businesses; the Small Business Administration programs available for home builders; how to apply for and navigate these new lending programs, including the eligible business purposes for these loans.