In the wake of the COVID-19 pandemic, the U.S. Department of the Treasury (Treasury) and the U.S. Small Business Administration (SBA) have released further guidance on the affiliation rules applicable to the Paycheck Protection Program (PPP) enacted under the Coronavirus Aid, Relief, and Economic Security Act. This guidance, which supplements the SBA’s Interim Final Rules, will be of particular interest to private equity firms and venture capital funds and their relationships with their portfolio companies and investments. Drilling down further, the relationship between healthcare management service organizations and the entities that they manage will need to be looked at given the affiliation guidance, however the applicability of the affiliation rules and guidance is not limited to the healthcare industry.
Read the full article: Treasury and SBA Issue Updates on the Affiliation Rules Applicable to the Paycheck Protection Program //
Source: https://www.jdsupra.com/legalnews/treasury-and-sba-issue-updates-on-the-41478