The Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”) was signed into law on March 27, 2020, with the goal of offsetting some of the economic consequences of the COVID-19 pandemic. A key part of the legislation is a $349 billion forgivable loan program, titled the Paycheck Protection Program, for companies with 500 or fewer employees, designed to incentivize employee retention. State and municipal assistance programs may also be available to small businesses, and some businesses will also benefit from employment tax benefits offered under the CARES Act. The CARES Act provides funding for an additional $454 billion program designed to facilitate loans to companies with between 500 and 10,000 employees, also subject to conditions designed to assure continued employment.