[Womply]

The guidelines are clear.

Entity type: Pretty much any "business" entity is eligible.

Size: The SBA has very clear size standards (based on employees or if you look at alternative size standards a combination of net assets and historical profitability). These are all objective criteria.

Affiliation: The Treasury & SBA intentionally loosened affiliation rules to INCLUDE the vast majority of VC-backed companies.

Credit elsewhere, collateral, personal guarantees: The Congress eliminated these requirements because they would limit and slow capital access.

The Treasury issued new guidance on Thursday in response to a loophole that allowed large companies (aka those that would not qualify themselves) to access PPP funding through their subsidiaries (which previously DID qualify under the law). This guidance is very clear: it applies to "large companies" (aka not "small businesses") and effectively closes the loophole. As a result many companies have returned their PPP loans, which was the intended result. (Q31 here https://home.treasury.gov/system/files/136/Paycheck-Protecti...)

If you're interested, you can read the Treasury Department guidelines here: https://home.treasury.gov/policy-issues/cares/assistance-for...