CARES Act Update - New PPP Guidance on Access to Liquidity Considerations, Private Equity Firms, Hedge Funds and ESOPs

On April 23,2020 and April 24, 2020, the U.S. Department of the Treasury and the Small Business Administration updated their Paycheck Protection Program (“PPP”) Questions and Answers and issued additional Interim Final Rules on the PPP, elaborating on PPP eligibility criteria for businesses with adequate access to liquidity, hedge funds, private equity firms, private equity portfolio companies and ESOPs. The below client alert discusses this new guidance.

PDF of the Client Alert:  CARES Act Update - New PPP Guidance on Access to Liquidity Considerations, Private Equity Firms, Hedge Funds and ESOPs.