The CARES calculator was developed by Right Networks to enable small businesses to quickly and easily understand if they are eligible for support under the CARES Payroll Protection Program, how much money they are eligible for and how much money can be forgiven. It can be utilized as an aid to prepare for the actual application process.
The calculator uses an interview approach and guides you through the process by answering simple questions. At the end it will highlight the answers and provide you the opportunity to download a pdf of your answers and the results.
More about the CARES Act
The Coronavirus Aid, Relief, and Economic Security (CARES) Act was passed by Congress on March 27th, 2020. This over $2 trillion relief package provides economic assistance for American workers, families, and small businesses. One of the key components of the CARES Act is the Small Business Paycheck Protection Program.
The $349 billion Paycheck Protection Program is implemented by the Small Business Administration with support from the Department of the Treasury. This program provides small businesses with funds to pay up to 8 weeks of payroll costs including benefits. Funds can also be used to pay interest on mortgages, rent, and utilities. Small businesses and eligible nonprofit organizations, Veterans organizations, and Tribal businesses described in the Small Business Act, as well as individuals who are self-employed or are independent contractors, are eligible if they also meet program size standards.