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 October 29, 2019, a panel of Seventh Circuit Appellate Court Judges held that the Americans with ...
Read More >
Digital transformation will fundamentally change how you operate your business and deliver value to ...
Read More >
As previously discussed, Colorado has taken steps to increase the salary threshold for employees tha...
Read More >
The COVID-19 pandemic has shaken M&A transactions. Companies that entered into deal negotiations man...
Read More >
What Happened: On 10 September 2019, European Commission President-elect Ursula von der Leyen nomin...
Read More >
A federal court in Sacramento explained last week its rationale for temporarily barring the State of...
Read More >