New guidance on SBA loans means most startups are still excluded from $349 billion stimulus

Apr 4 2020 by TechCrunch

 

Under new guidance issued by the Small Business Administration it seems non-profits and faith-based groups can apply for the Paycheck Protection Program loans designed to keep small business afloat during the COVID-19 epidemic, but most venture-backed companies are still not covered.

Late Friday night, the Treasury Department updated its rules regarding the “affiliation” of private entities to include religious organizations but keep in place the same rules that would deny most startups...

Continue Reading New guidance on SBA loans means most startups are still excluded from $349 billion stimulus