The Coronavirus Aid, Relief and Economic Security Act—better known as the “CARES Act”—is the largest economic relief bill in U.S. history. It represents a $2 trillion relief package designed to stabilize the U.S. economy. Its flagship offering? The “Paycheck Protection Program” (“PPP”), a loan initiative designed to provide funds to small businesses as they ride out the COVID-19 storm. And a critical sector of the economy is asking one very important question: Do venture capital (“VC”)- and private equity (“PE”)-backed companies qualify for PPP loans?
