April 2, 2020
In an article published in Law360, Miami attorneys Franco Furmanski and Carlos Loumiet discuss the coronavirus aid act that was recently signed into law by President Donald Trump and how this will impact businesses under the Paycheck Protection Program.
“The CARES Act, including the Paycheck Protection Program described in this article, is a huge step to limit the economic damage that businesses and their employees will suffer as a result of COVID-19 and the necessary measures that have been put in place to suppress it,” wrote Furmanski and Loumiet.
“The forgivable aspect of these loans makes them, in large part, a grant by the federal government to qualifying businesses. Will the qualification process be too complex or burdensome, as many governmental programs are? The answer is no,” wrote Furmanski and Loumiet.
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