Tag Archives: Coronavirus Aid Relief and Economic Security (CARES) Act
Coronavirus: Maine Fishermen still waiting to access pandemic relief funds
On March 27, Congress passed the Coronavirus Aid, Relief, and Economic Security (CARES) Act that, among other provisions, authorized one-time “economic impact payments” of $1,200 to adult U.S. residents with incomes of under $99,000 plus an additional payment of $500 for each child in a household. The CARES Act also established the Paycheck Protection Program to provide $349 billion in loans to businesses affected by the coronavirus shutdowns. Fishermen were eligible to apply for those loans as well as loans under the Economic Injury Disaster Loan program, but many did not realize that was the case. “Due to unclear guidance, many fishermen were initially told by their lenders they were not eligible for the Paycheck Protection Program,” lobster fisherman and state Rep. Genevieve McDonald (D-Stonington) said Monday. >click to read< 07:49
