The recently-enacted CARES Act provides at least $454 billion for use by the Secretary of the U.S. Treasury, including by implementing a program or facility that provides financing to banks and other lenders to make direct loans to mid-sized businesses and nonprofit organizations with between 500 and 10,000 employees. This Alert describes the provisions of the CARES Act that are relevant to that program. The details of the program have not yet been announced. The Alert can be found here.
Client Alert: CARES Act Assistance for Mid-Sized Businesses – April 6, 2020
