Relief for larger businesses due to COVID-19: CARES Act business implications and selected legislative efforts
In the wake of the economic hardship precipitated by the onset of the novel coronavirus (COVID-19), both state and federal legislatures are ramping up efforts to stifle the effects of the pandemic on national and local economies. In a previous Client Alert, we discussed the U.S. Small Business Administration’s (SBA) economic injury disaster loan program and its anticipated impact on small businesses. While to date the focus of both the federal and state governments has been on individuals and small businesses, larger businesses, as well as smaller and mid-sized businesses, will soon receive assistance under the CARES Act and other state-level legislation to confront COVID-19-related economic disruption and losses.
Read the Client Alert here.