By: Pat Gouhin, Chief Executive Officer

The Paycheck Protection Program under the recently passed CARES Act provides forgivable loans for businesses with less than 500 employees, but included a huge hurdle for many startups, the Small Business Administration’s (SBA) “Affiliation Rules”. 

By: Pat Gouhin, Chief Executive Officer

As part of America’s startup community, ACA was among many organizations that responded this weekend to address an issue of concern regarding a needed clarification that otherwise excludes small businesses with equity investors from the 7(a) loan program under the Coronavirus Aid, Relief, and Economic Security (CARES) Act.  

By: Pat Gouhin, Chief Executive Officer

The U.S. House of Representative has just passed the historic $2.2 trillion dollar COVID-19 emergency relief bill, the Coronavirus Aid, Relief, and Economic Security (CARES) Act to speed recovery across the U.S. economy.  These funds will be distributed to individuals, businesses and states in response to the coronavirus pandemic under H.R. 748. 

By: Pat Gouhin, Chief Executive Officer

As the devastation of COVID-19 continues to leave small businesses and non-profit organizations in its wake, Senator Marco Rubio, Senator Collins, and the Rubio-Collins Small Business Recovery Plan task force have been working around the clock to develop a non-partisan package to protect organizations.  The goal of the bill is to empower current infrastructure at the Small Business Administration for the Keeping Workers Paid and Employed Act.  Senators Rubio and Collins are calling for banks and credit unions to scale up their processes to meet the extraordinary needs we are currently facing. 

By: Ham Lord, Chairman of Launchpad Venture Group and Co-Founder of Seraf-investor.com 

This post originally appeared on Seraf-investor.com

It’s amazing how the world economic situation changed seemingly overnight with Covid-19. One moment we were enjoying a healthy economy with a robust outlook on the future. Suddenly, a pandemic crisis sweeps over the globe creating uncertainty in all aspects of our lives. We’ve been through economic downturns before, yet this time it feels different. Being forced to live in a world of “social distancing” has changed people’s psychology because it has altered everything about our day-to-day world. 

By: Greg Mesack, Partner at GrayRobinson

The Angel Capital Association (ACA) is constantly advocating on behalf of its members in Washington, DC.  While ACA’s members are supporting startups and entrepreneurs, your association is working to ensure that the government does not create roadblocks to your mission. 

By: Pat Gouhin, Chief Executive Officer

As we have continued to monitor the impact of Covid-19 on our Country, and in fact the World, and worked through our contingency plans for the ACA 2020 – The Summit of Angel Investing event, we have continuously reached out to our partners and local government officials to gather the most up to date information needed to guide us in our decision process regarding the Summit.  As we consider the health and safety of our Summit attendees, and given the meeting guidance we have received from local, State and Federal agencies, we have decided to postpone the ACA 2020 Summit meeting. The future configuration, format, and date are all under review. 

By: Pat Gouhin, Chief Executive Officer

In late 2019, the Securities and Exchange Commission proposed amendments to the existing “Accredited Investor” definition to increase access to investment opportunities.  The additions include new categories to the definition that would allow for someone to qualify as an accredited investor based on professional certifications and designations, or other credentials issued by an accredited education institution.  The SEC is not proposing changing the thresholds for an accredited investor and those are expected to stay as is.  A 60-day public comment period was provided in which the Angel Capital Association submitted a response letter for further clarification and expansion of sections of the proposed updates. 

By: Pat Gouhin, Chief Executive Officer

The Angel Capital Association cares deeply about the health and well-being of our community. ACA understands the coronavirus outbreak is an evolving situation and we are aware of how the uncertainty affects your decision to participate in ACA and Angel Group activities. We are monitoring the coronavirus impact and following recommendations by the World Health Organization (WHO), the Centers for Disease Control and Prevention (CDC), and local health organizations. We are empathetic to those already touched by the impact of coronavirus, as well as for all the other stakeholders that share the responsibility of demonstrating effective judgment and strong leadership during these tumultuous times. 

By: Pat Gouhin, Chief Executive Officer

We are still planning for a successful event in a little more than two months. You are part of the ACA family and your safety remains our highest priority.  We know our many members and partners have been excited about participating in this year’s ACA Summit, ACA 2020 - The Summit of Angel Investing, to be held May 12-14, in Denver, Colorado.