SBA Releases Procedural Notice for PPP Loans and Changes of Ownership
By EsqSocial Corporation 03/11/20
On October 2, 2020, the Small Business Association (“SBA”) released a Procedural Notice (the “Notice”) outlining the required procedures for changes of ownership of entities that have received funds under the Paycheck Protection Program (the “PPP”). Specifically, the Notice sets forth when prior SBA approval is required before a change of ownership, depending on whether the change of ownership relates to a stock sale or merger, or to an asset sale......
By: Chiesa Shahinian & Giantomasi PC