15Oct
Updated Guidance Concerning PPP Loans and Changes of Ownership
How is Change in Ownership Defined? On October 2, 2020 the Small Business Administration published SBA Procedural Notice (5000-20057) (the “Notice”), which was effective on that date. The Notice outlines rules that apply to PPP lenders and entities that received Paycheck Protection Program (PPP) funds (“PPP Borrowers”) when there is to be a change of ownership of a PPP Borrower....
By:
Lathrop GPM
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