On Friday, March 27, 2020, Congress passed and President Trump
signed into law the Coronavirus Aid, Relief, and Economic Security
Act (CARES Act) to provide emergency assistance for individuals,
families and businesses affected by the 2020 coronavirus
pandemic.
Among numerous other provisions, some of which are covered in
other updates found in Reinhart's
Coronavirus Resource Center, the Act offers significant relief
to small business, including by: (i) enhancing the Small Business
Administration's (SBA) existing Section 7(a) loan program; (ii)
expanding the availability of the SBA's Economic Injury
Disaster Loans; and (iii) establishing the funding and basic
framework for additional lending programs to follow.
