On March 27, President Trump signed into law the Coronavirus Aid, Relief, and Economic Stimulus Act of 2020 (the "CARES Act"). What is the Act's purpose and who does it benefit? According to The National Law Review,
"Title I of the CARES Act establishes, among other things, the Paycheck Protection Program (the "Paycheck Program") providing for up to $349,000,000,000 in forgivable loans to business concerns which are backed by the United States Small Business Administration (the "SBA"). The Paycheck Program is a short-term program for the "Covered Period" from February 15, 2020, until June 30, 2020, and loans are capped at the lesser of 2.5x a borrower’s LTM average monthly payroll or $10,000,000 per borrower."
Shortly after that, we began to hear stories about businesses that received loans and didn't appear on the surface as the kind of company that should receive a loan. According to the Washington-Post