SBA Loan Guidance Doesn't Resolve Fate Of Venture Startups
By Tom Zanki (April 6, 2020, 7:47 PM EDT) -- The Small Business Administration has provided guidance indicating that its affiliation rules will not bar religious organizations from seeking coronavirus relief loans, although its latest clarification does not address the status of venture-backed startups potentially stuck in limbo.
The SBA said Saturday that otherwise qualified faith-based organizations can apply for relief loans authorized under the Coronavirus Aid, Relief and Economic Security Act, or CARES, Act. The estimated $2 trillion relief package contains a $349 billion provision known as the Payroll Protection Program, or PPP, designed to save small business jobs during the pandemic.
The SBA's primary loan program is normally limited...
Stay ahead of the curve
In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.
Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and so much more!