06Oct
SBA Guidance on Changes in Ownership of PPP Loan Borrowers
On Friday, October 2, 2020, the Small Business Administration (“SBA”) issued a Procedural Notice (the “Notice”) providing guidance on the notification and consent requirements for changes in ownership of borrowers of Paycheck Protection Program (“PPP”) loans. While the SBA’s Standard Operating Procedures for 7(a) loans requires lenders to obtain SBA consent before the lender approves a change in ownership of any PPP borrower, the details surrounding the SBA consent process and when it applies...
By:
Foley & Lardner LLP
Related
Effective January 1, 2020, the minimum salary threshold for the executive, administrative, and profe...
Read More >
The Ballard Spahr Zoning and Land Use Team is continuing to monitor all aspects of the Philadelphia ...
Read More >
In September 2020, the FTC announced that it would be proposing a series of changes to the Hart-Scot...
Read More >
I. EXEMPTIONS - Resale Exemption - Domokur Aviation Services, LLC v. McClain, Ohio BTA Case No. 20...
Read More >
The Tax Cuts and Jobs Act created a new incentive program to spur development in distressed communit...
Read More >
The National Labor Relations Board (NLRB) has held under the National Labor Relations Act (NLRA) tha...
Read More >