PPP exculudes VC backed Startups

The Paycheck Protection Program included in the US stimulus package to help small businesses will not Cover Startups With the majority of funding coming from VC firms. The terms include an affiliation rule that counts all employees within a PE or VC firm’s respective portfolio toward that 500 figure, making most of the portfolio companies ineligible. https://pitchbook.com/news/articles/vc-wins-pe-loses-out-on-350b-us-stimulus-loan-program