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09Oct

SBA Issues New Guidance Regarding Changes Of Ownership For PPP Borrowers

Tonkon Torp LLP | | Return|
On October 2, 2020, the Small Business Administration published new guidance outlining the procedures that PPP borrowers and lenders must follow in the event that a PPP borrower undergoes a “change of ownership.” For parties to a merger, acquisition, or sale in which the target company or seller has received a PPP loan, the new guidance includes important requirements applicable to (i) the drafting and negotiation of the purchase agreement, and (ii) the timing for submission of the forgiveness...
By: Tonkon Torp LLP
Source Url: https://www.jdsupra.com/legalnews/sba-issues-new-guidance-regarding-61138/

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