On March 27, 2020, President Trump signed into law the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”), Pub. L. No. 116-136. Section 1102 of the CARES Act creates a “paycheck protection program” by which small business concerns and certain other employers can obtain loans through a new program administered by the Small Business Administration (“SBA”). The eligibility requirements for the new loan program are outlined below. The application of those eligibility requirements to skilled nursing facilities (“SNFs”) and assisted living facilities (“AL”) will necessitate an examination of each organization’s unique facts and circumstances, particularly as it relates to application of the SBA’s
affiliation rules that are used to determine an organization’s size.