News & Analysis as of September 20, 2024

Small Business Administration › Due Diligence

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The Small Business Administration is a United States federal agency established in 1953 by the Small Business Act. The SBA is dedicated to assisting and supporting small business and entreprenuers. The SBA carries out its mission through a variety of programs including providing financial and federal contract procurement assistance, management assistance, and specialized outreach to women, minorities and armed forces veterans. less -

SBA’s New Rules and Policies to Strengthen and Diversify Its SBIC Program

Troutman Pepper on 10/13/2023

A small business investment company (SBIC) is a privately owned and operated investment fund that makes long-term investments in American small businesses and is licensed by the U.S. Small Business Administration (SBA). SBICs...more

Attention SBIR Applicants…Remember that Affiliation Rules Still Apply

Bass, Berry & Sims PLC on 1/13/2023

The Small Business Innovation Research (SBIR) program has an interesting construction. With seemingly no competition to bring size protests and the successful completion of a previous grant before a second grant, the unusual...more

Significant Changes to the SBIR and STTR Programs

Pillsbury Winthrop Shaw Pittman LLP on 1/6/2023

In the Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) Extension Act of 2022, Congress reauthorized these programs for another three years and added new requirements to reduce foreign...more

SBIR and STTR Programs Renewed with New Foreign Risk Due Diligence Measures and Pilot Programs

Fenwick & West LLP on 10/4/2022

On September 29, 2022, Congress passed the SBIR and STTR Extension Act of 2022, renewing the U.S. Small Business Administration’s (SBA) Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR)...more

SBIR/STTR Extension: Proposed Requirements for Small Business Contractors

PilieroMazza PLLC on 9/26/2022

On September 22, the Senate passed the Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) Extension Act of 2022. As it heads to the House of Representatives, government contractors in...more

Small Business Compliance Due Diligence Leads to Reduced FCA Penalty

Fox Rothschild LLP on 6/9/2022

Earlier this month, the Department of Justice (DOJ) announced a $5.2 million civil settlement agreement to resolve small business set-aside fraud allegations against an aerospace contractor. While the $5+ million...more

Five Million Reasons For Government Contracts Lawyers To Assist With The Acquisition Of Companies That Perform Government...

Morrison & Foerster LLP - Government... on 6/8/2022

Due diligence is an important preliminary step before one company acquires another or an investor puts millions behind an existing firm. When a target company performs government contracts or subcontracts, it is critical that...more

Nutter Bank Report: August 2021

Nutter McClennen & Fish LLP on 8/30/2021

Supreme Court Strikes Down Extension of CDC Moratorium on Evictions - The U.S. Supreme Court has issued a ruling that blocks the extension of the moratorium on evictions ordered by the Centers for Disease Control and...more

Lenders and Borrowers Beware: EIDL Fraud Alert

Holland & Knight LLP on 4/22/2021

Holland & Knight has learned through customary deal due diligence that some borrowers – especially those who received a Paycheck Protection Program (PPP) loan through the U.S. Small Business Administration (SBA) – may have...more

COVID-19 Hangover: Should You Go Ahead With Plans For A Transaction In 2021?

Tonkon Torp LLP on 3/15/2021

By all accounts, 2020 was a challenging year and M&A activity was certainly no exception. In the immediate aftermath of the pandemic and its related lockdowns, many M&A deals were thrown into turmoil. As the year progressed,...more

Buchalter COVID-19 Client Alert: Entrapment-by-Estoppel: A Potential Future Defense for Lenders in PPP Fraud Cases

Buchalter on 9/16/2020

The past decade has taught lenders much about regulatory enforcement risk. In the fallout of the 2008 financial crisis and collapse of the housing and related markets, the Department of Justice and other agencies...more

PPP Loans and M&A Transactions: Considerations for Lenders and Buyers

Hinshaw & Culbertson LLP on 9/5/2020

Paycheck Protection Plan (PPP) loans are Small Business Administration (SBA) Section 7(a) loans. Consequently, they are subject to the same regulatory guidelines that generally apply to Section 7(a) loans....more

COVID-19 Relief: Paycheck Protection Program and Issues in M&A Transactions

Pillsbury Winthrop Shaw Pittman LLP on 9/2/2020

Potential merger partners of and investors in businesses that have received loans under the Paycheck Protection Program should be aware of particular risks and other diligence considerations. Any potential merger partner or...more

TALF Program Update: Master Loan and Security Agreement and Updated FAQs

Proskauer Rose LLP on 8/31/2020

On May 20, 2020, the Federal Reserve Bank of New York (the “New York Fed”) released the form of Master Loan and Security Agreement (“MLSA”) that will govern loans issued under its Term Asset-Backed Loan Facility (“TALF”) and...more

Financial Services Weekly Roundup: Madden Fix/Valid When Made Rule Faces New Challengers

Goodwin on 8/28/2020

In the News. On the heels of a lawsuit challenging the Office of the Comptroller of the Currency’s (OCC) recently issued Madden fix/valid when made rule, eight state attorneys general filed suit challenging a similar rule...more

Practical Tips to Engaging in M&A Transactions in a COVID-19 World

Chambliss, Bahner & Stophel, P.C. on 5/12/2020

Navigating M&A transactions can be a challenge in the best of times. Unfortunately, it would be difficult to call this the “best of times” from a business perspective given the current COVID-19 pandemic...more

How To Avoid Federal Criminal And Civil Penalties In Connection With Applications For PPP Loans

Lowenstein Sandler LLP on 4/27/2020

The Small Business Administration’s (SBA) Paycheck Protection Program (PPP) is a forgivable loan program created by the Coronavirus Aid, Relief, and Economic Security (CARES) Act. The purpose of the PPP, which has a $349...more

PPP Loans: SBA Limits Lender Due Diligence Requirements, But Lenders Still Have Enforcement Exposure

Morgan Lewis on 4/15/2020

While the Coronavirus Aid, Relief, and Economic Security (CARES) Act makes borrowers primarily responsible for demonstrating loan eligibility under the Small Business Administration’s Paycheck Protection Program, lenders must...more

You “CAN” Avoid Affiliation in Negotiating an Acquisition

Bass, Berry & Sims PLC on 10/30/2018

Conditioned Agreements to Negotiate (CAN) - When acquiring or selling small businesses, government contractors need to be cognizant of the Small Business Administration’s (SBA) “present effect rule.” Under this rule, SBA...more

Key Issues for Due Diligence of Government Contracts – Part I

PilieroMazza PLLC on 2/2/2017

Comprehensive due diligence review of any target company is imperative when determining whether to buy another company. Layer on the fact that the target company has government contracts then several unique issues must also...more

Eight Principles You Should Know When Negotiating Your Teaming Agreement

PilieroMazza PLLC on 5/16/2016

As the saying goes, “two heads are better than one.” This statement often applies to government contracting, where contractors frequently work together in joint ventures or prime and subcontractor teams to bid on and perform...more

Federal Small Business Set-Aside Contracts When Selling or Buying a Business

Smith Anderson on 9/1/2015

In a prior Alert, we provided a high-level overview of the Anti-Assignment Act, which requires federal pre-approval for the sale of federal government contracts, often through a “novation agreement” signed by the seller,...more

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Small Business Administration › Due Diligence

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