CARES Act and the real estate industry: understanding the impact of COVID-19
April 23, 2020
The Coronavirus Aid, Relief, and Economic Security Act (CARES Act) provides a $2.2 trillion economic stimulus package to assist businesses and individuals who have been impacted by the current pandemic. In addition to the traditional Small Business Administration (SBA) funding programs, the CARES Act established several new temporary programs to address the economic distress caused by the COVID-19 outbreak. This guide examines the impact of the CARES Act on the commercial real estate industry from the owner/occupant perspective and the lender perspective.
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