Outlining the Main Provisions of the CARES Act

1. Up to $500 Billion in Loans, Loan Guarantees, and Investments to Eligible Businesses (of any size but geared to large businesses), States and Municipalities. (Division A, Title IV) Allocation of Funds:

• Not more than $25 billion in loans and loan guarantees for passenger air carriers and

support service providers;

• Not more than $4 billion in loans and loan guarantees for cargo air carriers;

• Not more than $17 billion in loans and loan guarantees for “business critical to maintaining national security”; and

• Initially $454 billion in loans, loan guarantees and investments in support of facilities established by the Federal Reserve to support lending to eligible businesses, states and municipalities (any amounts not used in the above three categories will added to this category).

Please see full publication below for more information.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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