X
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

Buchalter | | Return|
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
Source Url: https://www.jdsupra.com/legalnews/buchalter-covid-19-client-alert-sba-37565/

Related

West Virginia DEP Opens Comment Period for NPDES Construction Stormwater Permit

The West Virginia Department of Environmental Protection is proposing to modify the General WV/Natio...

Read More >

COVID-19 (coronavirus): summary of key legislation and guidance affecting the UK construction industry

A round-up of the key legislation, guidance and measures issued to help the UK construction industry...

Read More >

Global PE buyout activity stays relatively robust in H1

Amidst the COVID-19 pandemic, total buyout volume in the first half of 2020 dropped 23% annually, wh...

Read More >

HSR Update – Early Termination Is Again An Option

In a prior note we provided guidance on COVID-19’s Impact on HSR Filing Timelines. The Agencies ha...

Read More >

Healthcare Employers’ Title VII Obligations In Harassment, Discrimination Of Employees By Patients

Title VII of the Civil Rights Act requires healthcare employers to protect their medical staff and e...

Read More >

Spanish employment newsletter - December 2019

I. International Case Law - The use of secret video surveillance can be regarded as proportionate ...

Read More >