‘Attorney Peter J. Smith on the CARES ACT and Small Business Owners’
Peter J. Smith IV recently spoke to the Idaho Business Review on CARES Act and its implications for the state’s small business owners.
“Smith + Malek’s 11 attorneys will take on one appointment per day for as long as the service is needed. Smith + Malek are committed to helping the small business community with a pro-bono service that includes a 30-minute video or telephone call with a business law attorney. Our attorneys also are prepared to discuss the contractual implications of COVID-19, which render some contracts void if they contain an “act of God” clause.”
Smith answers questions about how the CARES act would affect many small business owners in Idaho, from self-employed, non-profit, and other small businesses. He detailed what business owners need to know, how to best take advantage of the various resources, how to protect themselves from COVID-19 related lawsuits by customers and employees, and further recovery bills.
The CARES Act provides $377 billion relief allocated for small businesses. With about 80% of Idaho’s economy driven by small businesses, the CARES Act makes a significant impact on their operation, the most significant parts being the Paycheck Protection Program Loan Guarantee and Economic Injury Disaster Loans.