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
It is the rare construction project that is completed without any change in the work. In most sophis...
Read More >
he last time the Department of Justice’s Antitrust Division and the Federal Trade Commission (the A...
Read More >
In Channel Medsystems, Inc. v. Boston Scientific Corporation, the Delaware Court of Chancery rejecte...
Read More >
The Illinois Limited Liability Company Act (Act) permits an LLC to continue after dissolution solely...
Read More >
Auto Parts Manufacturer Refused to Hire Employee Who Needed a Reasonable Accommodation, Federal Agen...
Read More >
Uber Technologies Inc. will eliminate 3,700 jobs. This equates to the company shedding a quarter of ...
Read More >