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Asked a question 2 years ago

I have a client that's a small C Corporation with a 49% Japanese silent partner. They make and sell tools on US Patents but are made or imported from vends in Asia and Europe. While the company does sell outside the United States, 80% is sold in the US, and 100% of the employees are US citizen’s in the US. Their payroll is around $200,000 per month. Since it seems they are excluded from the PPP, does the foreign ownership exclude them from the EIDL and the Debt Relief Loan? If so, are there any other alternatives? There must be hundreds of companies with some foreign ownership that employ millions of US citizens. Surely it was not Congress's intent to exclude all these Americans, was it?

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