INSUBCONTINENT EXCLUSIVE:
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 from receiving loans.
(b) If you are a faith-based
organization, *no affiliation rules apply to you,* because the SBA just said so
At like 10pm on a Friday night.
It doesn't matter if you have a zillion employees; as long as any 1 entity has
