/* ========================================================================== LINKEDIN INSIGHT TRACKING CODE BELOW ========================================================================== */

Sign up for updates

Receive updates from the Pilot team as we learn more about the federal stimulus bill and what it could mean for your business.

How startups can benefit from the new federal stimulus bill

On March 27, 2020 Congress passed a $2 trillion coronavirus stimulus package, which has been signed into law. Read our take on the bill and what it could mean for startups and small businesses. 

  • Startups may be eligible to receive a forgivable loan (a loan that can convert to money you keep) of 2.5x your average monthly payroll (up to $10m), subject to some restrictions.
  • The loan will not require a personal guarantee from the business owner
  • To be forgiven, the amount needs to be spent in eight weeks, and the amount of the loan that is forgiven will be reduced by layoffs or certain salary reductions