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
A federal appeals court ruled yesterday that the 2012 guidance document from the Equal Employment Op...
Read More >
Many still recall the SARS outbreak, which caused a slowdown in the economy and a plunge in the stoc...
Read More >
The recent rise to prominence of SPACs provides private equity portfolio companies an alternative me...
Read More >
As universally expected, the Fed’s Open Market Committee delivered its third interest rate cut of 2...
Read More >
BCLP’s global Antitrust & Competition team have been tracking the various ways COVID-19 is impactin...
Read More >
With strengthened legislative mandates and significant regulatory reform in place, the U.S. governme...
Read More >