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
Source Url: https://www.jdsupra.com/legalnews/sba-guidance-on-changes-in-ownership-of-67436/
Related
Bricker & Eckler's construction attorneys are proud to present "Top Gun," our premier Midwest constr...
Read More >
Buying a competitor isn’t the only way to bring the attention of federal antitrust agencies. Our An...
Read More >
Employers should continue to exercise caution and care in drafting their criminal record screening p...
Read More >
On August 31, 2020, the Delaware Chancery Court issued an opinion in litigation between Anthem and C...
Read More >
New York State is on its way to enacting comprehensive reforms to broaden the scope of its discrimin...
Read More >
In this episode of The Proskauer Brief, partner Evandro Gigante and associate Arielle Kobetz discuss...
Read More >