Tuesday, May 5, 2020; 2 p.m. EDT.

Topics included:

  • What do Board Members/Executives need to do/know?
  • How best to deliberate & document process?
  • What are the “No-Nos” that inform the decision to repay a loan or pull a loan application?
  • What does FAQ #31 & SBA IFR #4 require a venture fund to do? What must a Board do?
  • What does the “Mnuchin Line” ($2M loans) mean for whether your startup’s loan will be “investigated” and how?
  • Does asking for loan forgiveness or shrinking the loan size make a difference in liability/scrutiny?
  • What info about my loan will become public under FOIA (Freedom of Information Act)?
  • How will future financings, M&A, and IPOs be impacted in the coming years by these loans?
  • What will LPs ask in fundraising about loans in the portfolio?
  • The “need” standard is vague, so what will prosecution look like?
  • What is Qui Tam, and why do we care? What does PRIVATE ENFORCEMENT look like, and why are there financial incentives for private parties?
  • What did startups likely get “wrong” in their loan applications or analysis?

Speakers: 

  • Kathleen A. McGee, former Bureau Chief for Internet & Technology, NY Attorney General’s Office; Director, Mayor Bloomberg’s Office of Special Enforcement; Assistant District Attorney, in the Bronx, NY.
  • Kimberly E. Lomot, previously certified as a Designated Attorney for SBA 504 Lending, counsels both borrowers and lenders with respect to government guaranteed loans, including SBA (7a) and 504 loans.
  • Ed Zimmerman, Chairs the Tech Group at Lowenstein Sandler and, for the last 15 years, has been an Adjunct Professor of VC at Columbia’s MBA Program. Chambers USA ranked Ed among the 22 best lawyers in Startups & Emerging Companies–USA–Nationwide; of those, Ed is the only lawyer based in New York (2018). Best Lawyers in America (2017) named Ed the New York City Venture Capital Lawyer of the Year.

Notes:

To see our other material related to the pandemic, please visit the Coronavirus/COVID-19: Facts, Insights & Resources page of our website by clicking here.