NPR Speaks to Shook About Restrictions on CARES Act Loans for Pandemic Relief
Kansas City’s National Public Radio (NPR) station spoke to Shook’s Chair of the Corporate Services Practice Group Sandy Hawley about restrictions on pandemic relief small business loans.
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.”
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.
