Affiliations exist when one business controls or has the power to control another or when a third party (or parties) controls or has the power to control both businesses.
Typical SBA affiliate rules are being waived for PPP loans made to small businesses:
- in the hotels and food services industries (NAICS code beginning with ’72’)
- that are in the SBA’s Franchise Directory
- that receive funding through a Small Business Investment Company (SBIC) licensed by the SBA.
Additional guidelines may be forthcoming.