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
On July 8, Pennsylvania Gov. Tom Wolf held a ceremonial bill signing for two initiatives intended to...
Read More >
With Brexit now just a few days away, deal makers are brushing up their knowledge of the UK's merger...
Read More >
Qualified employees may take job-protected leave under the Family and Medical Leave Act based on the...
Read More >
Spoiler alert - this article doesn’t have anything to do with cats. But it is about something you h...
Read More >
In Arizona, non-solicitation agreements may be enforceable if they are “reasonable.” This means em...
Read More >
What happens when a whistle blower provides detailed information about a burly Texan — with convict...
Read More >