To supplement our March 27 alert outlining the Coronavirus Aid, Relief, and Economic Security Act ( “CARES Act”) key provisions and impact on U.S. businesses adversely affected by COVID-19, we provide information on the provisions included in the “Keeping American Workers Paid and Employed Act” and “Relief for Workers Affected by Coronavirus Act.” These provisions provide relief measures for emerging companies, including $349 billion for Small Business Administration (the “SBA”) loans, loan forgiveness, guarantees, and subsidies.
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