X
08Oct

SBA Issues Guidance on Treatment of PPP Loans in Mergers and Acquisitions

On October 2, 2020, the SBA issued guidance under a procedural notice (the “Notice”) providing information concerning the required procedures for changes of ownership of an entity that has received a Payroll Protection Program (“PPP”) loan (such entity, a “PPP Borrower”). Under the guidance, if a change of ownership occurs in a PPP Borrower, prior to closing the transaction causing the change of ownership the PPP Borrower is generally required to 1) complete a forgiveness application and place...
By: Partridge Snow & Hahn LLP
Source Url: https://www.jdsupra.com/legalnews/sba-issues-guidance-on-treatment-of-ppp-12817/

Related

EC Requests Scientific Opinions on Hydroxyapatite (Nano) and Nano Copper and Colloidal Copper

On June 25, 2019, the European Commission’s (EC) Scientific Committee on Consumer Safety (SCCS) pos...

Read More >

SCOTUS Reviewing Standard of Proof in Workplace Allegations of Racial Discrimination

For the last 150 years, the "motivating factor" standard of proof test was the pinnacle of what a pl...

Read More >

State Law Overtime Calculation Prevails Over Established Federal Method

In November 2019, the Pennsylvania Supreme Court looked at the conflict between federal and state la...

Read More >

M&A Litigation 2019 - France

A joint Hogan Lovells & GTDT publication on M&A Litigation in France. Across common law and code la...

Read More >

Updated Proposed Focused Review Scheduling Letters: OFCCP Still Seeks Substantive Revisions

This is the third of our series of blog posts on the Office of Management and Budget’s (OMB) July 1...

Read More >

The Board Restores Balance in Collective Bargaining by Reinstating Employers’ Ability to Unilaterally Cease Dues Checkoff After Contract Expiration

Approximately four years ago, during the Obama Administration, the National Labor Relations Board up...

Read More >