06Oct
SBA’s “October Surprise” Forces PPP Borrowers and Lenders to Complete Loan Forgiveness and Establish Escrow Accounts to Circumvent SBA Prior Approval for Most “Change of Ownership” Deals
In a significant development for the mergers and acquisitions (“M&A”) community, the U.S. Small Business Administration (“SBA”) issued a “Procedural Notice” which affects the requirement for companies involved in the buying or selling of a company with a Paycheck Protection Program (“PPP”) loan – the requirement of the PPP Lender to obtain SBA “prior approval” for a change of ownership....
By:
Arnall Golden Gregory LLP
Related
New York lawmakers just introduced the “Dependent Worker Act” into the Assembly and Senate this pa...
Read More >
Normally you don’t associate the lucrative sale of a closely held business with bitter disputes amo...
Read More >
The divisions in this country are not just political, they also relate to attitudes toward responsib...
Read More >
In Part 1 of this series of posts, we discussed how business owners must think beyond the near term ...
Read More >
In re: Essendant, Inc. Stockholder Litigation, C.A. No. 2018-0789-JRS (Del. Ch. Dec. 30, 2019). Whe...
Read More >
Dear YouDig?, When we say we have a project team, we mean it. We seek input from all of our project...
Read More >