On April 23, 2020, Congress passed the Paycheck Protection Program and Health Care Enhancement Act (the “Act”), which provides approximately $484 billion in relief in addition to the Coronavirus Aid, Relief and Economic...more
On April 9, 2020, the Board of Governors of the Federal Reserve System (the “Fed”) released details regarding two lending programs (the “Main Street Facilities”) under the Coronavirus Aid, Relief and Economic Security Act...more
On April 2, 2020, the U.S. Small Business Administration (the “SBA”) issued a new interim final rule that provides implementation guidelines for interpreting its Paycheck Protection Program (“PPP”). As discussed in our main...more
On April 6, 2020, the U.S. Small Business Administration (the “SBA”), in consultation with the Department of Treasury, issued a frequently asked questions page (the “FAQs”) as additional guidance on the implementation...more
4/9/2020
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Tax Relief
In addition to the loans being made under the CARES Act to small businesses (typically with fewer than 500 employees), Title IV Subtitle A of the Act also provides nearly $500 billion in senior loans and guarantees to larger...more