On March 25, 2020, the U.S. Senate unanimously voted to
advance legislation titled Coronavirus Aid, Relief, and Economic
Security Act (the "CARES Act") to respond to individuals,
families, and businesses affected by the coronavirus.
[Ed. Note: The CARES Act was signed into law on March 27,
2020.]
Funds will be allocated to expand unemployment insurance and to
assist the healthcare industry, transportation industry, education,
farmers and ranchers, emergency personnel and law enforcement,
childcare services, and many others. The provisions of the CARE Act
that are targeted towards small businesses will include, but not be
limited to, the following measures:
- Paycheck Protection Loans
("PPL") to cover payroll costs, interest costs,
rent, and utilities;
