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
When it comes to OSHA-reportable fatalities and injuries, there are some important exceptions in the...
Read More >
In today’s edition of Daily Compliance News: 1. The Big Boys dance to a potential Exxon/Chevron Me...
Read More >
If you are scrambling to comply with the new California sexual harassment training requirements, we ...
Read More >
A Trending News interview from Employment Law This Week®, featuring attorney Garen Dodge of Epstein ...
Read More >
Employers sponsoring 403(b) plans should be aware that we are nearing the deadline for adopting a pr...
Read More >
Employers sometimes include fixed terms of employment in their employment agreement. Sometimes a fix...
Read More >