The CARES Act: Summary of Select Provisions Related to Small Businesses and Nonprofits

On Friday, March 27, 2020, the President signed into law the Coronavirus Aid, Relief, and Economic Security Act (the CARES Act). One sub-section of the bill, the Keeping American Workers Paid and Employed Act (Title I), aims to provide relief to American small businesses and nonprofits in the form of various loan programs.

Following is an overview of the loan programs. To continue reading, please click here.

For information on the regulations announced on April 3, 2020 by The Small Business Administration, please read our alert, "SBA Issues Interim Final Rules on Paycheck Protection Program"