The Coronavirus Aid, Relief, and Economic Security Act (also referred to as the CARES Act) recently adopted by the US federal government provides for two basic assistance programs available to US subsidiaries of foreign companies: Economic Injury Disaster Credit Loans (EIDLs)) and Loan for Workplace Protection (Paycheck Protection Program Loans (PPP Loans)). What is important is the fact that American subsidiaries of foreign enterprises or American companies controlled by foreign enterprises may apply for and receive these aid measures if they meet the requirements explained in both programs. Please note that work on assistance programs for larger entrepreneurs is still underway. After their finalization, we will present them in a separate memorandum.
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