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
In April 2019, the European Commission (EC) published a report on "EU loan syndication and its impac...
Read More >
While I loved the fact that pooled employer plan (PEP) is an option as a multiple employer plan (MEP...
Read More >
Key points- •The new Setting Every Community Up for Retirement Enhancement (SECURE) Act, effective...
Read More >
If you are a sports fan, then you might consider the regulatory agenda of the U.S. Department of Lab...
Read More >
While the United States and California legal worlds remain (understandably) focused on issues arisin...
Read More >
This client alert analyses the primary Employer risks, arising out of the construction of major hydr...
Read More >