06Oct
Paycheck Protection Program Update: New SBA Guidance Impacting M&A Activity
The Small Business Administration’s latest guidance tells PPP lenders under what conditions they may approve changes of ownership involving PPP borrowers. Standard PPP loan paperwork has required PPP borrowers to seek consent from their lenders prior to effecting a “change of ownership.” PPP lenders require this consent because they, in turn, are required to report such events to SBA....
By:
Pillsbury Winthrop Shaw Pittman LLP
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