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
As predicted, the flood of website accessibility lawsuits is continuing in the first months of 2020 ...
Read More >
Below are summaries of recent laws adopted in Washington State that could be interpreted as relating...
Read More >
In Arizona, courts will enforce a confidentiality agreement if it is “reasonable.” Often, confiden...
Read More >
In Belanger v Western Ventilation Products Ltd, 2019 ABQB 571, a Master of the Alberta Court of Quee...
Read More >
The labor movement sent a powerful and potentially revolutionary signal to the tech industry this pa...
Read More >
The Federal Trade Commission (FTC) has revised the thresholds that govern pre-merger notification re...
Read More >