07Oct
Alert "SBA Issues Guidance On PPP Borrower Changes Of Ownership"
On October 2, 2020, the Small Business Administration (SBA) published guidance on when SBA consent must be obtained before a PPP borrower undergoes a change of ownership. It not only covers changes in controlling ownership interests and certain asset sales but also could apply to redemptions of existing minority owners by PPP borrowers, and to buyouts of minority owners by other existing owners. There is potential for significant delay and disruption of deal structures. The new guidance could...
By:
Porter Hedges LLP
Source Url: https://www.jdsupra.com/legalnews/alert-sba-issues-guidance-on-ppp-55861/
Related
Employers must carefully navigate Family and Medical Leave Act (“FMLA”) pitfalls when administerin...
Read More >
The EEOC has officially ended its collection of EEO-1 Component 2 reports, pursuant to a February 10...
Read More >
In California, the "pay-when-paid" contract language typically found in general contractor’s subcon...
Read More >
So far in 2019, OFAC is sending a strong message about sanctions enforcement and compliance responsi...
Read More >
On the heels of the welcome news that employers have three more months to prepare for Massachusetts ...
Read More >
On September 15, 2020, the U.S. Department of the Treasury published a final rule, effective October...
Read More >