On March 31, SBA Administrator Jovita Carranza and Treasury Secretary Steven T. Mnuchin announced that the SBA and Treasury Department have initiated a “robust” mobilization effort of banks and other lending institutions to provide small businesses with $349 billion in much-needed capital pursuant to the Paycheck Protection Program, established by the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”). The CARES Act, the largest stimulus package in U.S. history, was signed into law… Continue Reading