Start-ups pursue 'free money' with relief funds, prompting backlash [MSN Money]
SVB Financial Group (SIVB)
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Source: MSN Money
Domio, a start-up that offers short-term rtals, has its headquarters in a New York City loft that featur beer on tap, a game room and a wall of house slippers for visitors. The fast-growing and unprofitable company has raised $7 million in vture capital, including $00 million in August.© Gabby Jon for The New York TimWh thecoronavirus pandemicInstead, Domio applied for a federal loan under the Paycheck Protection Program, the $9 billion plan to save jobs at small busins during the outbreak. It received a loan on April . Three days later, the program’s funding ran out, ev as hundreds of hard-hitrtaurants, hair salons and shopsQutions aboutwhether the funds were disbursed fairlyShake Shacka frh $0 billion© Ryan Young for The New York TimNow, scrutiny of the program has reached technology start-ups like Domio. While many of the young compani have behurt by the pandemicLoad ErrorSign Up For the Morning Briefing letterBut start-ups, which last year raised more than $0 billion in funding, h
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