On March 27, 2020, Congress passed, and the President signed into law, the Coronavirus Aid, Relief and Economic Security Act (“CARES Act”). The CARES Act is a massive $2.2 trillion law designed to stabilize the United States’ economy as the country deals with the novel coronavirus COVID-19.
One major component of the CARES Act is the $349 billion set-aside to provide relief for small businesses in the form of loans and other financial resources. Here Blank Rome discusses the major components of this program that all small businesses need to know before deciding whether they should apply for one of these loans.
(Provided from Michael Joseph Montalbano of Blank Rome)