06Oct
New PPP Rules Governing M&A Transactions
The Small Business Administration issued long-awaited rules governing lender and borrower obligations when there is a change in ownership of an entity that has received a Paycheck Protection Program (“PPP”) loan. The new guidance, issued on October 2, 2020, eliminates the need for SBA approval for many merger or sale transactions, but injects a host of additional procedural and compliance requirements—including that the outstanding balance of the PPP loan be placed in escrow—that could create...
By:
Bracewell LLP
Related
In a flurry of year-end activity before losing its lone Democratic member, the National Labor Relati...
Read More >
On September 20, 2019, the National Labor Relations Board (Board) issued a proposed rule that would ...
Read More >
The New Jersey Legislature appears poised to pass S67, the Portable Benefits Act for Independent Con...
Read More >
When an organization is considering a major strategic development, such as seeking new investors or ...
Read More >
Presented below is our summary of significant Internal Revenue Service (IRS) guidance and relevant t...
Read More >
The COVID-19 pandemic has changed most governments' views on the strategic relevance of the domestic...
Read More >