The Coronavirus Aid, Relief, and Economic Security Act (CARES Act) is to provide relief for mid-sized businesses. Under the CARES Act, mid-sized businesses are defined as “businesses, including, to the extent practicable, nonprofit organizations, with between 500 and 10,000 employees.” The CARES Act appropriates a total of $500 billion for this portion of the Act with $454 billion for application by the U.S. Department of the Treasury through Federal Reserve emergency lending programs for businesses, states, and municipalities.
Read more detail about the relief by clicking the button below. Topics include:
- Terms of Lending for Mid-Sized Businesses Under the CARES Act
- Restrictions Imposed on and Certifications Required of Mid-Sized Businesses to Qualify
- Regulatory Uncertainty