Enforcement Risks – Assessing the Long-Term Litigation and Compliance Implications for the CARES Act and PPP Participants


On March 27, 2020, President Donald Trump signed into law the Coronavirus Aid Relief and Economic Security Act (“CARES Act” or “the Act”), which provides more than $2 trillion in stimulus funds to United States’ individuals and businesses. The Paycheck Protection Program (“PPP”) is a primary part of this relief legislation. Managed through the Small Business Association (“SBA”), the federal government has allocated $659 billion in loans to help ailing businesses cover, among other things, payroll, mortgage interest payments, rent, and utility payments. If borrowers comply with certain conditions, PPP funds are full or partially forgivable. 

 

To read the full update, please click here

 

Read More News