07Oct
PPP: SBA Provides Process for a Change of Ownership
On October 2, 2020, the SBA provided notice to PPP lenders regarding the process by which PPP borrowers may undertake a “change of ownership” while a loan is outstanding. Previously there was little guidance provided to lenders, resulting in inconsistent treatment of borrowers that were targets in M&A transactions, with some borrowers informed that they…...
By:
Nutter McClennen & Fish LLP
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