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
Source Url: https://www.jdsupra.com/legalnews/new-ppp-rules-governing-m-a-transactions-92154/
Related
Considerations for Development Applicants: Part I – Best Practices for Interacting with Local Gover...
Read More >
Seyfarth Synopsis: On July 31, 2019, the Illinois Governor J.B. Pritzker signed HB0834 into law, ame...
Read More >
NCAA President Mark Emmert has predicted that it would become “impossible” for the NCAA to conside...
Read More >
Earlier this year, the New York City Commission on Human Rights published robust model policies for ...
Read More >
The SECURE Act—the most impactful retirement plan legislation since the Pension Protection Act of 2...
Read More >
When a judicial opinion refers to a “bitter feud”, a plaintiff “beset by acrimony”, and a “rock...
Read More >