Why These Startups Are Locked Out of $349 Billion in Stimulus @weisul

To qualify for paycheck protection loans, companies must generally have fewer than 500 employees, so it seems logical that startups qualify.

So, without further guidance, VC-funded startups have to prove to the SBA that they should not be affiliated.

"In these circumstances it may well be impossible." In many cases, he says, the SBA just won't have time to make a decision on individual companies until it's too late for the loans to do any good.

On March 27, the NVCA submitted a letter to Treasury Secretary Steve Mnuchin and SBA Administrator Jovita Carranza, asking for clear guidance on the affiliation rules.