borrowers were not only unable to make payments in a timely manner but also unable to exit existing mortgages by selling their home,” wrote Laurie Goodman, vice president of housing
2020. The Coronavirus Aid, Relief, and Economic Security Act (“the CARES Act” or “the Act”) authorizes more than $2 trillion to battle COVID-19 and its economic effects, including immediate cash relief for individual citizens, loan programs...
Some types of loans were affected by the CARES Act, including forbearance for federally backed loans for some multifamily rental property owners and mortgages, as well as a temporary suspension of federal student loans. But auto loans were not protected in any way. That meant that anyone with ...
On March 27, the president signed into law the Coronavirus Aid, Relief and Economic Security (CARES) Act. The $2 trillion legislative package to combat the coronavirus pandemic brings much needed economic relief to employers and employees impacted by the COVID-19 virus. Below are the highlights...
On March 27, 2020, the House of Representatives passed the CARES Act by voice vote. President Trump signed the bill into law that same day.
The SBA first attempted to make this clarification on May 5, 2020, through its addition of Question 44 to the FAQs, which stated, consistent with the Act and the existing SBA regulations, that “For purposes of the PPP’s 500 or fewer employee size standard, an applicant must count all ...
If you're struggling because of the coronavirus pandemic, some relief measures put into place by the CARES Act are still in effect. Here's what they are and when they end.
75 percent of the $454 billion that the CARES Act earmarked for emergency lending programs at the Fed to help struggling Americans and businesses survive the pandemic and support bank lending was never handed over to those programs by Mnuchin. All that the Fed ha...
On March 27, the president signed into law the Coronavirus Aid, Relief and Economic Security (CARES) Act. The $2 trillion legislative package to combat the coronavirus pandemic brings much needed economic relief to employers and employees impacted by the COVID-19 virus. Below are the highlights...
Business clients may be eligible for financial relief through the federal Paycheck Protection Program that is being introduced as a result of the CARES Act.