The CARES Act explained to photographers and small businesses


Don’t panic! Be an optimist. These are the words from Salvatore Cincotta, who put together a video explaining all you need to know about the CARES Act Small Business Relief for photographers.

We’re living through difficult times, and the grown ups in the room tell us that the worst is still to come. The COVID-19 Coronavirus is not only taking a toll on our physical health, it’s also changing the world around us in ways we never imagined. Working life as we know it has suffered a major disruption, and anyone from small business owners to freelancers have had their livelihood drastically changed, with assignments reduced or simply cancelled.

Many people are wondering where the money for their next rent or equipment payment is going to come from, small business owners think if they need to let their employees go, while freelancers ask if there will be any help available to them.  There is a lot of information about options on the Internet, but much of it is confusing and many are still wondering if they have chosen the wrong profession, and what to do next.


Info for gig workers and freelancers

There is still a lot that needs to be clarified and will be explained in the coming days, but the latest news indicate that $2 trillion CARES Act will be an economic lifeline for gig workers and freelancers. To know more about conditions that apply to gig workers, visit the Gig Workers Collective, that has compiled a list of national and state-specific resources for gig workers during the coronavirus.

There is also a place where freelancers can get some information: the Freelance Artist Resource Producing Collective, that created a list specifically designed to serve freelance artists, COVID-19 Freelance Artist Resources. It’s an aggregated list of FREE resources, opportunities, and financial relief options available to artists of all disciplines. It includes, but is not limited to actors, designers, producers, technicians, stage managers, musicians, composers, choreographers, visual artists, filmmakers, craft artists, teaching artists, dancers, writers & playwrights, photographers, etc.


A loan that can be forgiven

If you’re a photographer, either working on your own or with a small business employing people, the video created by Salvatore Cincotta may be a beacon of light in the middle of all the confusion. While it does not offer all the answers, as some aspects of the newly announced CARES Act Economic Relief Plan are still not completely clear, the author shares a lot of information that will help photographers and other creative professionals better understand what they can expect from this 100% federally-guaranteed loan which, as Cincotta notes, is more than just a “loan”, as “the government is giving forgiveness to these loans if certain conditions are met with the allocation of the funding.”

Sal Cincotta read through all the information available about the Coronavirus Aid, Relief, and Economic Security (CARES) Act and explains it in words anyone can understand. The photographer has a special interest on the subject he is talking about, because he is the publisher of Shutter Magazine and a small business owner himself, with 40 employees that he does not want to send home. Besides explaining the key aspects of the just signed into law the CARES Act Economic Relief Plan, we also takes the time to share tips on how to best use the extra time we all have now.


Tips to keep your business afloat

From renewing your website and exploring SEO in better ways, to renewing your portfolio and using social media to promote your business, to keeping in touch with your clients, assuring them that you’ll be there for them when we get back to life as we know it, Sal Cincotta goes through a lot of ideas that will keep your mind on the positive side of life, while we go through this dire situation.

The loan aspects of the video, though, are key in his presentation. As Sal Cincotta says, “the COVID-19 Coronavirus is impacting our everyday life. If you are an employee, you have the stress of worrying about being laid off— will you be able to pay your bills? If you are a small business owner, your fears and concerns are equally as grave. How will you make payroll? Will you have to shut down your business?”


Key points of the relief package

The Coronavirus Aid, Relief, and Economic Security or CARES Act allocated $350 billion to help small businesses keep workers employed amid the pandemic and economic downturn. So, what does the CARES Act mean for you and your small business? Sal Cincotta answers those important questions in his video. He breaks down some of the key points of this relief package and what you need to know for your small business to benefit from it.

This is a 100% federally-guaranteed loan for small businesses who maintain their payroll during this emergency. Now, this is more than just a “loan”, he explains, as the government is giving forgiveness to these loans if certain conditions are met with the allocation of the funding.

Salvatore Cincotta notes, in the video, that some aspects of the CARES Act bill have yet to be completely explained by the government, but that the information available right now points to a solution that will help professionals through these difficult times. The author promises to update the info as soon as he has more details to share, so keep the link to Sal Cincotta’s website in your favorites. There is, after all, a whole lot of other interesting information available on the Shutter Magazine kept by the photographer.