On Friday (3/27), the US government passed the CARES Act to provide economic relief to individuals and businesses. A $350 billion small business lending facility was included in the relief bill. This webinar addresses whether VC-funded companies are eligible for these loans (up to $10 million), which are forgivable under certain conditions.
The "affiliation" rules of the Small Business Association (SBA) complicate matters for venture-backed companies. In this latest Navigating Uncertainty panel session, Thejo Kote will interview two nationally recognized attorneys who are both on the National Venture Capital Association (NVCA) task force working on behalf of all venture backed companies, to make it easier for them to access SBA loans. Mike Kendall, the co-head of law firm Goodwin's Private Equity Group, and Kathryn Hickey, partner Piliero Mazza (see bios below) will provide clarity on the program, review eligibility requirements, and explore possible actions to be taken in response to the affiliation rule.