The CARES Act is a $2 trillion economic relief package enacted to help individuals and businesses in the United States weather the severe financial impact of the COVID-19 pandemic. A key feature of the relief package is the creation of the “Paycheck Protection Program” (PPP), which will be administered by the Small Business Administration (SBA) under the umbrella of its 7(a) business loan regime. PPP loans will be made by participating commercial lenders between February 15, 2020, and June 30, 2020, subject to certain eligibility requirements, and will be 100% guaranteed by the SBA.
Join us as we unpack PPP eligibility for venture-backed companies, key loan terms and the mechanics for applications.
- What is a PPP loan and who is eligible?
- What is an “affiliate” and how might the SBA’s affiliation rules impact PPP eligibility?
- How can the PPP loan proceeds be used?
- Does the loan need to be repaid, or is all or a portion forgivable?
- How and when should a company apply?
For more information or to access a recording of this webcast, please email Alison Stephens or call +1 650 843 5972.