A main focus for businesses in need of capital recently has been the Coronavirus Aid, Relief, and Economic Security (CARES) Act, which expanded the criteria under which borrowers could apply for loans through the U.S. Small Business Administration (SBA), notably through the Paycheck Protection Program (PPP). The most significant change to the PPP has been the determination that US businesses owned by foreign companies are now eligible for loans. For an overview of the terms and conditions of the program, please see our prior alert.
Continue Reading Alternative Sources of Capital for Foreign-Owned Businesses in the US

On March 27, 2020, President Trump signed into law the Coronavirus Aid, Relief, and Economic Security Act, or the “CARES Act” to provide nearly 2 trillion dollars in aid and relief to individuals, businesses, and other entities in the wake of the spread of COVID-19.  Included in the CARES Act are tax and loan provisions intended to provide financial relief to people and businesses suffering as a result of the disease.

The following summarizes certain key tax-related provisions in the CARES Act.
Continue Reading The CARES ACT – Tax Relief