COVID-19 Coronavirus Resources for Startups

It felt like my Twitter feed was packed with well intentioned ephemeral threads with explanations, links and hot takes (what would Twitter be without the hot takes?) on the latest resources for startups during this crisis. But they are difficult to track, and rapidly out-of-date. And the web is packed with memos and updates on the latest legislation and lobbying and news. My own bookmark list started getting overwhelming, so I thinned it out and wanted to share it.

This is the list of what is most helpful to me as I get and stay up to speed, and what I expect will be helpful to startup clients and employees here in New York and elsewhere. I’ll keep updating. And regularly removing in part to keep things current,and most importantly to keep the list length from feeling overwhelming for me, or for you. If you’ve got suggestions, please email or DM. – JR

Explainers

CARES Act & SBA Loans (Paycheck Protection Program)

How to Make Sense of the PPP Loan Program for VC-Backed Startups from Mark Suster (added April 8) (editor’s note: this is currently one of the clearest FAQ for funded companies to make high level assessments about eligibility for, and limitations of, PPP)

A Small Business Owner’s Guide to the Paycheck Protection Program from Gusto (added April 8) (editor’s note: particularly useful because it has a “live stream” of updates)

What the “CARES Act” Paycheck Protection Program Means for Small Business from Permanent Equity (added April 3)

CARES Act/PPP Loan and Forgiveness Amount Calculator from Foundry Group (added April 3)

Hyde Park Venture Partners Federal Stimulus Impact on Venture Backed Startups (slides) (added April 3)

PPP Loan Application and Affiliation Guidance from the National Venture Capital Association (NVCA) (added April 8, updated April 24) (editor’s note: extremely useful for application process overall; for startups that have raised financing – in particular, if investors have significant ownership stakes, “protective provisions” or other covenants requiring investor consent – “affiliation” with an investor creates the biggest *potential* block of PPP eligibility. This is a rapidly-changing situation; check with your attorney and accountant for the latest)

Affiliation in the Context of SBA Loans – Guidance for Venture Capital Investors from the National Venture Capital Association (NVCA) (added April 3) (editor’s note: this is an important accompaniment to the above PPP Loan Application and Affiliation Guidance, since this link goes into more detail regarding “protective provisions”)

FAQs on SBA Assistance to Small Businesses from Betterfin (added April 3) (editor’s note: this FAQ now includes information detail about Economic Injury Disaster Loans (EIDLs) and 7(a) SBA Loans)

Families First (emergency paid leave)

What the “Families First Coronavirus Response Act” (FFCRA) Means for Small Business from Permanent Equity (added April 3)

SBA Website and SBA’s Own Guidance & Rules

SBA Coronavirus Relief Options (added April 3)

PPP Sample Application Form (as of April 3)

PPP Loans FAQ as of April 8 (added April 8)

New PPP Loans FAQ as of April 23 (added April 24) (editor’s note: Question 6 addresses some of the affiliation considerations for startups that have raised outside VC funding, and Question 31 adds some ambiguity as to whether “businesses owned by large companies” should consider returning funds)

Affiliation Rules for PPP as of April 3 (added April 8)

Size Eligibility and Affiliation Under the CARES Act (added April 8)

PPP Interim Final Rule effective April 2 (added April 8) (editor’s note: not really a productive or approachable doc for startups, but useful for startup lawyers)

Taking Action

PPP Banks / Lender Status Crowdsourced List from Gusto (added April 8)

Lenders and Brokers Accepting New Customers for PPP Applications from Trevor Loy (added April 24)

Lender Finder (added April 3) (editor’s note: this is more for future use… I’ll be removing this link in short order unless it does something better than provide maps to bank locations) (editor’s note: this isn’t a helpful link right now – folks are reporting that banks are limiting PPP applications to their existing customers, both to manage bandwidth and to reflect that they have already performed “know your customer” (KYC) checks on their existing customers)

Aggregated Resources

National Venture Capital Association (NVCA) Response to COVID-19 (added April 3)

COVID-19 Small Business Resource Hub from Gusto (added April 8)

COVID-19 Business Resource Center from Alice (added April 3)

Tactics

Operational Tactics For Startups from GGVC (added April 3)

Startup Legal Fee Cost Containment (Safely) from Silicon Hills Lawyer (added April 3)

The Founder’s Field Guide for Navigating this Crisis from First Round Review (added April 11)

For employees

Stock Option Starter Guide from Secfi (added April 3)

Layoffs and what HR won’t tell you from Candor (added April 3)

Live, user-generated guide of who is laying people off, who is freezing new hiring, and who is actively hiring from Candor (added April 3)

Here’s What You Need To Know About Equity If You’ve Been Laid Off from Crunchbase (added April 3)

Self-Employment and PPP from Bench (added April 5)

For New York Startups

NYC Small Business Continuity Loan Program from New York City (added April 3) (editor’s note: this program has been “paused” given overwhelming interest)

Volunteer for the NYS Technology SWAT Team from New York State (added April 3)

Listen/Watch

Founder Resources for Weathering COVID-19 from Bessemer Venture Partners (added April 8) (editor’s note: the discussion between BVP’s Bryon Deeter and SaaStr’s Jason Lemkin is especially useful)

Panic With Friends with Howard Lindzon (added April 3)

NYC Performances and Events Streaming Online from 6sqft (added April 3)

(usual disclaimer, times 10: this isn’t legal advice)

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