Hedge funds and private equity firms won't get PPP loans - SBA

BOSTON (Reuters) - Hedge funds and private equity firms are not eligible for the types of U.S. government loans designed to provide relief to small businesses from the economic hardship of the coronavirus outbreak, the Small Business Administration said on Friday."Hedge funds and private equity firms are primarily engaged in investment or speculation, and such businesses are therefore ineligible to receive a PPP (paycheck protection program) loan," the SBA said wrote in an update to clarify..