How the CARE Act Helps Businesses

2020-04-02 3:00 PM - 3:45 PM

Join Terry Shepherd on a webinar to explain the Keeping Workers Paid Employment Act section of the CARE Act, a federal $367 billion dollar fund aimed at helping small businesses and nonprofits maintain a steady payroll during this virtual shut down of our economy due to the Covid-19 crisis

The Worcester Business Journal presents this free webinar series for Central Massachusetts businesses to better understand how they can benefit from the $2-trillion federal economic stimulus package. The first webinar from 3 to 3:45 p.m. on Thursday will focus on the federal stimulus package for businesses with 500 or fewer employees who have been negatively impacted by the efforts to stem the spread of the coronavirus pandemic.

While the event is free, pre-registration is required at

The government’s intentions are clear – they are trying to stem the massive tide of layoffs by providing direct funding to cover company payrolls and health care benefits for an 8 week period. There are a number of details and guidelines, but the bottom line is that if you play by the rules, the bulk of the funds, and potentially ALL the funds you borrow under this program will be forgiven.

In this session we’ll focus on the following:

  • Overview of the bill and how it is intended to help small businesses and nonprofits
  • How the loan program works for different size firms
  • What you have to do to prepare to apply
  • The risks and rewards – understanding the details, what’s forgivable, what’s not
  • What other costs can be delayed under this legislation that will help preserve cash
  • Audience Q&A

Presenters will include:

  • Amanda Risch, commercial finance attorney at Worcester law firm Fletcher Tilton
  • Terence Shepherd, managing partner of S&G Business Consultants & Certified Public Accountants in Worcester
  • Tom Wolcott, senior vice president and commercial banking officer at Ware-based Country Bank