Coronavirus Aid, Relief, and Economic Security (“CARES”) Act FAQ On March 27, 2020, Congress passed, and the President signed, the Coronavirus Aid, Relief, and Economic Security (“CARES”) Act into a law. A historic $2 trillion stimulus package, the CARES Act provides relief to American workers in the form of one-time direct payments, expanded unemployment insurance, suspended student loan payments, and more. And for small businesses, the CARES Act creates a new Small Business Administration (“SBA”) loan program—the Paycheck Protection Program (“PPP”)—portions of which can be forgiven. There is much to unpack in the 880-page, newly adopted CARES Act. This issue will focus on the PPP and other disaster loan programs that a smallto-medium-sized business may access to assist it in addressing COVID-19related concerns. Roedel Parsons will be issuing additional blogs examining other areas of the CARES Act and other recent developments that should be of interest to small- and medium-sized businesses.
Get in Touch Baton Rouge Office 8440 Jefferson Highway Suite 301 Baton Rouge, LA 70809
New Orleans Office 1515 Poydras Street Suite 2330 New Orleans, LA 70112
Phone: (225) 929-7033 Fax: (225) 928-4925
Phone: (504) 566-1801 Fax: (504) 565-5626 1