Posts tagged PPP Loans.
The United States District Court for the District of Maryland recently held that the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”), does not provide a private right of action for those aggrieved by an alleged violation. See Profiles, Inc. v. Bank of America Corp., 2020 WL 1849710 (D. Md., Apr. 13, 2020). The CARES Act amended the Small Business Act (“SBA”) to create the Payroll Protection Program (“PPP”). The PPP authorized participating lenders to make small business loans to adversely affected firms during the ongoing pandemic. See Pub. L. No ...