Coronavirus Relief Bills: Requirements and Opportunities for Franchise Businesses

On March 27, 2020, President Trump signed into law the Coronavirus Aid, Relief, and Economic Security (CARES) Act. Prior to that, the Families First Coronavirus Response Act (FFCRA) became law on March 18, 2020.

Congress passed these two coronavirus emergency aid packages to provide liquidity into the marketplace, direct assistance to businesses and workers, and paid leave benefits to many small business employees.

These two new laws contain both potentially burdensome requirements and financial opportunities for franchise businesses. Please go through the list of provisions below, read the details, and see what you may need to do. 

Importantly, please use the below analysis as a guide. This is not legal advice and you should not regard it as such; you may consider retaining legal counsel to help you make decisions for your business.

Additional resources, including access to IFA’s ongoing coronavirus webinar series, are at www.franchise.org/coronavirus.

We at IFA are here to help you navigate this coronavirus crisis. If you have questions on any of the issues below, please contact Caleb Gunnels on IFA’s Government Relations team at cgunnels@franchise.org.

We've also summarized the information found on this page into easy-to-follow documents that you can download and share with your networks. Click the links below to view the documents.

Coronavirus Relief Bills: Requirements and Opportunities for Franchise Businesses

Phase 3 Coronavirus Bill - What it Means for You

Requirements on Franchise Businesses in Coronavirus Legislation

Emergency Family and Medical Leave (SEC. 3102, FFRCA)

Paid Sick Leave (SEC. 5102, FFRCA)

Unemployment Benefits (SEC. 2102 and 2104, CARES Act)

Opportunities for Franchise Businesses in Coronavirus Legislation

Paycheck Protection Program (SEC. 1102, CARES Act)

Emergency Economic Injury Disaster Loans (SEC. 1110, CARES Act)

Treasury Fund (SEC. 4003, CARES Act)

Employee Retention Credit (SEC. 2301, CARES Act)

Advance Funding of Tax Credits for Paid Leave Program (SEC. 3606, CARES Act)

Delay of Payment of Employer Payroll Taxes (SEC. 2302, CARES Act)

Qualified Improvement Property (QIP) (SEC. 2307, CARES Act)

Modifications for Net Operating Losses (SEC. 2303, CARES Act)