Is a Traditional Funded Search Fund eligible for PPP under CARES Act?

by a searcher

4 years ago

I cannot find any relevant details and any pointers would be helpful.

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investor from University of Nebraska - Lincoln

Many traditional search funds will run into affiliation issues due to control mechanisms at the board level (much like VC backed companies. See here: https://www.venable.com/insights/publications/2020/04/the-cares-act-afflicted-by-affiliation. If investor has control many companies, they have to roll up their affiliates and if that number is greater than 500 employees you have a problem with PPP. Talk to your accountant and largest investors (they are most likely to trigger)

4 years ago | like reply | 0 likes

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