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
Dieckman v. Regency GP LP, C.A. No. 11130-CB (Del. Ch. Oct. 29, 2019). The Dieckman v. Regency GP L...
Read More >
The introduction to my last post, SECURE Act Part 1, explained: There are two parts of the SECURE A...
Read More >
On May 21, 2020, the Securities and Exchange Commission ("SEC") adopted amendments to its financial ...
Read More >
Governor of Oregon Kate Brown issued a state-wide Executive Order No. 20-12 on March 23, 2020, direc...
Read More >
There has been a drumbeat of news reports about Wuhan, China, a city more populous than any in the U...
Read More >
Medical Provider Refused to Hire Men and Retaliated Against an Applicant for Complaining, Federal Ag...
Read More >