An SIIA Webinar
Following passage of the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) on March 25th, SIIA invited the experienced lawyers of Nelson Mullins to provide a deep-dive into the trillion dollar stimulus package – reviewing what’s included, who is eligible, and how to apply. In particular, the team discussed:
- Paycheck Protection Program – who is eligible and for how much?
- Loan Forgiveness – does the PPP have to be paid back?
- What are allowable uses of PPP loans?
- Affiliation rules – Does the fact the company is controlled by a private equity firm render them ineligible?
- Economic Injury Disaster Loan Program – who is eligible and how much?
- Emergency Grants – request, timing and eligible uses.
- What are the affiliation rules for the EIDL loans?