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CARES Act: Governmental Relief Programs for Businesses

PROGRAM Date:3/30/2020

Program Overview:

During the coming week, we anticipate that the Coronavirus Aid, Relief, and Economic Security (CARES) Act will become law with broad bipartisan support. A central component of the law's economic stimulus package is a series of lending programs that include: -Grants and direct lending dedicated to specific non-financial sectors, such as airlines and national security businesses -A significant expansion of eligibility and other aspects of programs administered by the Small Business Administration (SBA) -Funding for several lending programs administered by the Federal Reserve -The Small Business Paycheck Protection Program to be administered by the SBA -The Joint Federal Reserve and Treasury lending programs -The conditions and restrictions that will accompany participation in the aforementioned programs -Longer term insights based on experience with governmental lending and crisis-driven economic programs -Tax relief for businesses impacted by COVID-19 -Expectations for CARES Act implementation and potential future COVID-19-related economic legislation

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Speakers

John H. Beisner

Partner, Litigation; Mass Torts, Insurance and Consumer Litigation

Skadden

Jamie L. Boucher

Partner, Financial Institutions Regulation and Enforcement

Skadden

Brian D. Christiansen

Partner, Financial Institutions Regulation and Enforcement

Skadden

Seth E. Jacobson

Partner, Banking

Skadden

Eric B. Sensenbrenner

Partner, Tax

Skadden

CARES Act: Governmental Relief Programs for Businesses
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