09Oct
SBA Provides Guidance on Rules for M&A Transactions Involving PPP Loans
In a previous client alert, we had advised you of issues facing a purchaser of a business which had received a Paycheck Protection Plan (PPP) loan. PPP loans are Small Business Administration (SBA) Section 7(a) loans. Consequently, they are subject to the same regulatory guidelines.. These guidelines include provisions directing lenders to obtain the consent of the SBA before allowing a borrower to perform certain activities.......
By:
Hinshaw & Culbertson LLP
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