06Oct
Buchalter COVID-19 Client Alert: SBA Issues New PPP Guidance Regarding Required Approval for a Sale of Assets or Transfer of Ownership of a PPP Borrower; Use of Escrow Accounts to Avoid Requirement of Prior SBA Approval
On October 2, the SBA issued SBA Procedural Notice 5000-20057, Paycheck Protection Program Loans and Changes of Ownership (“Notice”). A link to the Notice is set out below. The Notice sets forth SBA procedural requirements when there is a sale of stock, other transfer of ownership interests, or transfer of assets of a PPP borrower, constituting twenty percent (20%) or more of common stock or other ownership interest, or fifty percent (50%) or more of assets in an asset transfer, or merger of...
By:
Buchalter
Related
Do your employees sign arbitration agreements? If so, do your arbitration agreements prevent employe...
Read More >
A local air district is developing a rule that would require both existing and proposed warehouses t...
Read More >
In 2009, Nevada implemented mandatory safety training for employees performing work on construction ...
Read More >
Many small or solo franchisees, subsidiaries, and affiliates of larger businesses may think the Cali...
Read More >
Driven by mega-deals and a healthy spike in U.S. mergers and acquisitions (M&A) transactions, thus f...
Read More >
On September 13, 2019, the U.S. District Court for the District of Massachusetts granted certificati...
Read More >