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
On August 5, 2020, Governor Brian Kemp signed Georgia Senate Bill 315 into law. This new law, which ...
Read More >
Oregon’s 2019 biennial legislative session brought some significant changes to Oregon employment la...
Read More >
On August 30, 2019, Gov. Gavin Newsom signed SB 778, which effectively delayed employer sexual haras...
Read More >
In December 2019, U.S. lawmakers passed the SECURE (Setting Every Community Up for Retirement Enhanc...
Read More >
On June 13, 2019 the Department of Health and Human Services, Department of Labor and Department of ...
Read More >
The Sarbanes-Oxley Act (SOX) provides federal whistleblower protections against retaliation for empl...
Read More >