Coronavirus Aid, Relief, and Economic Security Act (CARES)
CARES Act targets middle market with Main Street Lending program
Under the CARES Act, the federal government’s new Main Street Lending Program is designed to provide liquidity to middle market companies responding to the COVID-19 pandemic.
Midsize businesses, defined as those with 500 to 10,000 employees, may be eligible for loans under the new plan. Smaller organizations with fewer than 500 workers may be covered under the act’s additional provisions, the Economic Injury Disaster Loan Assistance program (EIDL), and the Paycheck Protection Program, which is administered by the Small Business Administration.
Signed into law on March 27, 2020, the CARES Act also provides tax relief and additional aid provisions.
MAIN STREET LENDING PROGRAM: What you need to know
The CARES ACT: program highlights
MOST RECENT CARES ACT INSIGHTS
We have updated our white paper to discuss how MSLP loans should be accounted for by both borrowers and lenders.
The CARES Act enacted a temporary suspension of the TCJA’s 80% limitation on the use of NOLs, this will impact FTC and ODL calculations.
Lenders in specialty finance face a wave of delinquencies as the pandemic continues to take its toll. How can lenders blunt the impact?
Have a specific question? Contact us for additional perspective and recommendations.