I'm the founder of a venture-backed company. Would my company qualify for the loans made available by the CARES Act?

TLDR: Most seed-stage and many Series A businesses can qualify for this.

• Companies majority owned by founders will be deemed controlled by their founders.
• Companies whose ownership is widely distributed will be deemed controlled by their boards and principal officers.

Small Business/Paycheck Protection Program (PPP) Lending Facility for Venture-Backed Companies

How long will it take to get the money?

Mr. Mnuchin said he expects that “by the end of next week, we will have a very simple process where these can be made and disbursed in the same day.”

OK I've read the rules about ownership and affiliation. But what if I haven't sold any equity in my company, and just raised money through convertible debt/notes/SAFES/etc.?

This is not clear yet. Intuitively, having raised money through these investment instruments probably wouldn't be construed as ceding any form of ownership in your company to another business. However, we still ned agency guidance.

Is this legal advice? Should I consult a lawyer before proceeding?

No. Yes.

Are these your views? Are you writing this on behalf of a law firm, or the NVCA, or some other organization?

These are my personal views. Neither I nor the content here is in any way affiliated with the NVCA or a law firm.