Title III of the CARES Act

Title III of the CARES Act focuses on providing financial aid to small businesses affected by the COVID-19 pandemic. It established the Paycheck Protection Program (PPP), which offers forgivable loans to help businesses keep their workforce employed during economic disruptions. The loans can cover payroll, rent, utilities, and mortgage interest, making it easier for businesses to survive the crisis. Additionally, Title III includes provisions to streamline the loan process, enabling businesses to access funds quickly to maintain operations and support their employees during challenging times.