Shook, Hardy & Bacon L.L.P. issued the following announcement on April 17.
In “If You’re a Business Owner on Probation, Don’t Bother to Apply for COVID-19 Relief Loans,” Hawley was asked about the Small Business Administration’s (SBA) restriction that anyone who owns at least 20% of a business who is on probation, parole or in prison is ineligible for financial assistance.
“Maybe it’s something as simple as having to draw the line somewhere,” Hawley said. “It’s a limited pool of funds, and maybe it’s as simple as that.”
The $350 billion dollars in government loans are purposed to keep workers on the payroll during the coronavirus health crisis.
Original source can be found here.