On March 27, 2020, Congress approved the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) to provide financial assistance to individuals and businesses. Title I of the CARES Act (the “Keeping Workers Paid and Employed Act”) includes several provisions intended to help small business suffering the adverse economic affects of the coronavirus (COVID-19). Of particular importance to those with existing SBA loans is Section 1112 of the CARES Act. This Client Alert, written by Anthony Zeoli, details what Section 1112 means for individuals and businesses.
