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CARES Act loans

I have had my construction company running for the past 10 years. However, during all of 2019 I took time off to care for my child. I was just starting to gear up again at the start of 2020 when the pandemic began and all prospective clients decided to pause all projects. What type of loans could I apply for given that my books/taxes for 2019 were non-existent? Thanks for any help clarifying.

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Apr 17, 2020

The funding for the CARES act has run out for the time being. But more may be made available in the future. If you were in operation on February 15, 2020 and had employees for whom you paid salaries and payroll taxes or paid independent contractors, as reported on Form(s) 1099-MISC, you may be eligible if the program receives more money. As 2019 tax returns are not due until July 15, 2020, you most likely would apply using your 2018 returns and could supplement by providing payroll information for early 2020. Reach out to an eligible SBA lender. You can find one by searching at this link

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