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Laura Young, Sales Trainer

How Can Your Business Benefit from the CARES Act?

When you think of the CARES Act (Coronavirus Aid Relief and Economic Security Act), you probably think about the $2 trillion in economic relief that provided assistance to Americans amidst the COVID-19 pandemic. It provided tremendous security to small businesses and families in such an uncertain time.

This act not only helped to safeguard jobs, but also restored peace of mind to businesses that otherwise would have potentially shut down as a result of the pandemic. Currently $150 Billion in CARES Act Funding is currently being distributed to State, Local, County and Tribal Organizations.

What can the CARES Act Funding be used on?

According to the U.S. Department of Treasury website, the CARES Act requires the funds to be used to cover expenses that:

  1. are necessary expenditures incurred due to the public health emergency with respect to Coronavirus Disease 2019 (COVID-19.)
  2. were not accounted for in the budget most recently approved as of March 27, 2020 (the date of enactment of the CARES Act) for the State or government; and
  3. were incurred during the period that begins on March 1, 2020 and ends December 30, 2020.

Technology improvements that comply with COVID-19 precautions and enable telework are necessary and should be priority. With what we’ve learned and how quick we’ve had to react, we know how important it is to have our ducks in a row in case something like this happens again.

Examples how the CARES Act can be used:

  • “Expenses to facilitate distance learning, including technological improvements, in connection with school closings to enable compliance with COVID-19 precautions.”
    • Interactive Whiteboards provide collaboration and are compatible with any video conferencing solution.
  • “Expenses to improve telework capabilities for public employees to enable compliance with COVID-19 public health precautions.”

To learn more about how to apply for the CARES Act, click HERE. Fill out the form below to reach out to an Applied Innovation sales consultant who can help guide how to apply the funds to improve your infrastructure.