Signed into law on March 27, 2020, the Coronavirus Aid, Relief, and Economic Security (CARES) Act (H.R. 748) is designed to get much-needed liquidity to business by, among other means:
- Origination of new Small Business Administration (SBA) loans through the “Paycheck Protection Act”;
- Economic Injury Disaster Loans and Emergency Grants; and
- Loan Payment Subsidies for Existing SBA Loans.
The SBA must provide additional guidance and regulations with 15 days of the execution of the CARES Act, but below is a broad outline of some of the resources designed to infuse liquidity into small business in the coming weeks. MORE.