Mergers & Acquisitions And Paycheck Protection Program: Proceed With Caution -
In Spring 2020, Congress adopted the CARES Act, which authorized $350 billion for the Paycheck Protection Program (“PPP”). With an additional $310 billion authorized under the PPP Flexibility Act in June 2020, PPP ultimately provided $660 billion for guaranteed loans to U.S. small businesses experiencing significant financial problems due to the Covid-19 pandemic.
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