Ask HN: Did you get rejected for a PPP loan for foreign ownership?
I know there are a lot of tech startup with foreign ownership (probably a good percentage of the companies set up by Stripe Atlas).
Foreign ownership, in whole or part, of the borrower should not be a consideration but I have seen multiple entities rejected (from PayPal and Chase) citing foreign ownership (interestingly PayPal's rule prohibited foreign ownership over 20% and Chase prohibited ownership over 49% by foreign companies which did not apply to foreign individuals).
I know other foreign owned entities have qualified for PPP loans https://www.prwatch.org/news/2020/05/13577/foreign-owned-entertainment-company-lands-federal-covid-19-loan
What was your experience?
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