News & Analysis as of

Notice Requirements SBA Lending Programs

Lathrop GPM

Considerations for Businesses with Outstanding PPP Loans in M&A Transactions

Lathrop GPM on

On October 2, 2020, the U.S. Small Business Administration (the “SBA”) issued Procedural Notice (5000-20057), titled “Paycheck Protection Program Loans and Changes of Ownership” (the “Notice”). The Notice sets forth the steps...more

Miller Canfield

Strategies to Reduce the Impact of the New SBA Procedural Notice on the Rights of a Secured Lender

Miller Canfield on

In the SBA Procedural Notice dated October 2, 2020 (the “Approval Notice”), the Small Business Administration (“SBA”) has issued mandates that may impact the ability of a recipient of a Paycheck Protection Program (“PPP”)...more

BCLP

Buyers’ obligation to assume PPP debt hinges on need for SBA approval

BCLP on

The Small Business Administration recently published a procedural notice on changes of ownership for PPP borrowers. One specific area where we’ve seen confusion is whether the procedural notice requires a buyer to assume all...more

BCLP

Four Things You May Have Missed about the PPP Change of Ownership Notice

BCLP on

As previously discussed, on October 2, 2020, the SBA published Procedural Notice 5000-20057 addressing Paycheck Protection Program Loans and Changes of Ownership. Based on a review of memos on the subject by other law firms...more

Mintz - ML Strategies

COVID-19 Insights Week In Review — April 8, 2020

Mintz - ML Strategies on

As the coronavirus pandemic spreads across the nation, your team at ML Strategies continues to monitor legislative and regulatory updates at the federal and state level. Each week, ML Strategies will provide weekly updates...more

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