12Oct
PPP Update: SBA Procedural Notice - Paycheck Protection Program Loans and Changes of Ownership
On October 2, 2020, the U.S. Small Business Administration (SBA) released a Procedural Notice (the Procedural Notice) that provides a framework to determine whether SBA consent is required for various changes of ownership of an entity that has received Paycheck Protection Program (PPP) funds (each, a PPP Borrower). Although the Procedural Notice was addressed to all SBA employees and PPP lenders, the guidance will ultimately impact any PPP Borrower considering a potential change in control, as...
By:
Robinson & Cole LLP
Related
Summary - On September 18, 2019, Governor Newsom signed California Assembly Bill 5 (AB 5) into law ...
Read More >
Scammers are always seeking new ways to target victims for Business Email Compromise (BEC) scams, wh...
Read More >
Last Friday night, President Trump signed into law a year-end $1.4 trillion spending bill that will ...
Read More >
As the rate of reported new COVID-19 cases in New Jersey continues to decline, Governor Murphy has b...
Read More >
Assessing whether to terminate an employee and how best to deliver the news are challenges every emp...
Read More >
As companies increasingly look to artificial intelligence (“AI”) solutions to streamline their bus...
Read More >