In response to the COVID-19 pandemic, on March 27, 2020, President Trump signed the “Coronavirus Aid, Relief, and Economic Security Act” (the “CARES Act”) into law, in what was the largest single economic rescue and stimulus package in the history of the United States. A significant component of the CARES Act was the Paycheck Protection Program (the “PPP”), a $349 billion program to assist small businesses, non-profits, the self-employed and others,[1] negatively impacted by COVID-19, to obtain loans.
Continue Reading SBA releases Interim Final Rule for Payment Protection Program