Coronavirus Aid, Relief, and Economic Security Act
Provisions for Realtors® and their customers
The U.S. Senate passed a $2 trillion COVID-19 economic relief package on March 25, 2020 with overwhelming bipartisan support.
The legislation now goes to the U.S. House, where it is expected to quickly pass. President Trump has said he will sign it into law.
The measure includes $349 billion for the Small Business Administration 7(a) loan program. Under the terms, businesses can get up to $10 million toward mortgage interest, rents, utilities, and payroll costs. A portion of these loans would be forgivable.