SBA Issues Much-Needed M&A Guidance for Payroll Protection Program Borrowers
October 5, 2020 - A "change of ownership” is a default under any PPP loan based on the SBA's form note used by most, if not all, PPP lenders. It was not clear until recently what constituted a change of ownership, or how a PPP borrower could avoid a default if the borrower underwent a change of ownership. The following client alert addresses the newly-issued guidance aimed at resolving prior uncertainty surrounding the procedures for changes of ownership.
PDF of the Client Alert: SBA Issues Much-Needed M&A Guidance for Payroll Protection Program Borrowers.
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