CARES Act Government Loans: GET THEM!
How can a business stay afloat during the Coronavirus shutdown? Coronavirus Aid, Relief and Economic Security Act (the “CARES” Act) became law on March 27, 2020. The Act contains wide-ranging provisions for government assistance to industries, enterprises and individuals. Summarized below are some of the most salient provisions relating to small businesses and individuals. This is meant to be a general guide and not relied upon for legal advice. We expect the agencies tasked with administering these programs to continue issuing regulations and guidance in the coming days, so please be aware that the precise contours of these programs are still developing. For questions about the CARES Act and how it might apply to a particular situation, please contact Dawn Coulson at dcoulson@eppscoulson.com or 213-929-2393.