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
Last Tuesday, February 18, 2020, Australis Capital Inc. announced the termination of its proposed ac...
Read More >
The Department of Justice quietly issued revisions to its Corporate Compliance Program Guidance. DO...
Read More >
Under Washington’s new Paid Family Medical Leave (PFML) law, eligible employees are entitled to pai...
Read More >
Earlier this week, the Third Circuit held in Delaware River Joint Toll Bridge Commission v. Secretar...
Read More >
The state of Washington has weighed in on the debate as to whether obesity is a disability under dis...
Read More >
Hurricane Dorian is being tracked carefully as the storm approaches Florida, just in time for the ho...
Read More >