As small businesses across the country find themselves overwhelmed with information and decisions on how to manage operations through the COVID-19 disruption, many are turning to their trusted partners in economic development roles for guidance. In response to this, economic developers at the municipal, state and regional levels are tasked with keeping up with the federal relief programs that are being created, clarified and modified at lightning speed.
While we have heard from many of our economic development and municipal finance clients that Baker Tilly’s Coronavirus Resource Center has been a valuable resource in staying current with the federal programs available to businesses in their communities, we have also taken the extra step to create a summary matrix of the relief programs. The matrix includes pre-existing benefits as well as benefits released as part of the Families First Coronavirus Response Act (FFCRA) and the Coronavirus Aid, Relief, and Economic Security (CARES) Act, as listed below.
As economic developers continuously look to layer benefits and financing sources, we have also included a description of how each benefit complements the others.