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US issues new guidance for small business loans to make it harder for public companies to get funds
The small business administration issued new guidance on small business paycheck loans. Here’s what they said on public companies getting loans: “Question: Do businesses owned by large companies with adequate sources of liquidity to support the business’s ongoing operations qualify for a PPP loan? Answer: In addition to reviewing applicable affiliation rules to determine eligibility, all borrowers must assess their economic need for a PPP loan under the standard established by the CARES Act and the PPP regulations at the time of the loan application. Although the CARES Act suspends the ordinary requirement that ... (full story)
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- Apr 23, 2020 11:12am Apr 23, 2020 11:12am
- RossEdwards
- Joined Jun 2019 | Status: Member | 3299 Comments
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- Apr 23, 2020 11:43am Apr 23, 2020 11:43am
- UKBanter
- | Joined Mar 2017 | Status: Member | 938 Comments
The elites think we are stupid. They are in the main quite correct.