U.S. Chamber Answers Questions on Phase III of the CARES Act

One of the main goals of the CARES Act is to ensure workers are employed amid the pandemic.

UNITED STATES – Phase three allocated $350 billion  to help small businesses continue to pay their staff while being shut down.

$240 billion has already been loaned out.

With so many businesses applying for federal help many people are wondering if they can apply at banks elsewhere.

“I know some banks have a long queue and you’re getting further behind. I know some banks have said we’re only going to service our current customers. I know, but I would encourage you if there’s a long queue and you want to apply elsewhere there’s no penalty for doing so,” says U.S. Chamber Midwest Region Executive Director John Kirchner.

You can watch the full webinar here.