Pelosi and Silicon Valley congressman ask Trump administration to protect start-ups
House Speaker Nancy Pelosi and Rep. Ro Khanna wrote to Treasury Secretary Steven Mnuchin and Small Business Administrator Jovita Carranza Tuesday asking that they protect start-ups impacted by the coronaivrus crisis.
Khanna explained on Twitter Saturday that even though most start-ups have fewer than 500 employees, the Small Business Administration may not view them as small businesses if they are venture-backed. Khanna explained on Twitter Saturday that even though most start-ups have fewer than 500 employees, the Small Business Administration may not view them as small businesses if they are venture-backed. That's because the SBA considers all start-ups backed by the same venture capital firm as the same business. This criteria would bar many emerging and early-stage businesses from aid.
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