COVID-19: Certain Financing Provisions of the CARES Act & Federal Reserve Facilities

On March 31, 2020, Cravath prepared a resource for clients entitled “COVID‑19: Certain Financing Provisions of the CARES Act & Federal Reserve Facilities,” which summarizes federal law based on the version of the CARES Act signed by the President on March 27, 2020, and other federal actions taken as of that date. It is subject to change with further developments. The resource provides an overview of the Federal Reserve’s lending program, including restrictions on loan eligibility and its applicability for mid‑size businesses, the Federal Reserve’s credit facilities and the Paycheck Protection Program, including eligibility and loan forgiveness provisions.

Please click here to read the full resource.