United States

Coronavirus Aid, Relief, and Economic Security Act (CARES)

CARES Act targets middle market with Main Street Lending program

RESOURCE CENTER

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

Borrower and lender accounting for Main Street Lending Program loans

We have updated our white paper to discuss how MSLP loans should be accounted for by both borrowers and lenders.

  • October 21, 2020

The impact of NOL carryback on the foreign tax credit

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.

  • October 20, 2020

Financial services industry outlook

Lenders in specialty finance face a wave of delinquencies as the pandemic continues to take its toll. How can lenders blunt the impact?

  • October 14, 2020
Have a specific question? Contact us for additional perspective and recommendations.

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