Does Your Company Qualify?
Under the U.S. CARES Act Paycheck Protection Program, your company could obtain a forgivable loan designed to cover 8 weeks of payroll and related expenses. Is your company eligible? Orrick can help guide you through the detailed and complicated rules around eligibility for these loans. We are offering a legal assessment package to any new clients that are venture-capital-backed companies who are Delaware corporations, for a discounted flat fee of $1,500. The assessment includes:
- Analysis of the CARES Act, which will incorporate:
- The affiliation rules for determining the size of your business
- Guidance from the Small Business Administration and Treasury
- Feedback from lenders and financial institutions
- Market approaches adopted by other, similar companies
- Advocacy by trade groups and venture capital firms
- Confidential review of the relevant corporate records by Orrick attorneys, including:
- Capitalization records
- Certificate of incorporation
- Bylaws
- Stock purchase agreements
- Investors’ rights agreements
- Voting agreements
- Side letters granting control or management rights to an investor
- An Eligibility Assessment indicating:
- A determination of whether any terms in your materials create a high risk of being deemed ineligible for an SBA Paycheck Protection Program loan
- An explanation of your company’s eligibility
- Recommended next steps to improve your company’s eligibility to apply for the program
To submit your assessment request, please provide your contact information below, then click Submit.