SBA Change of Control Guidance Does Not Work for Insolvent PPP Borrowers
By EsqSocial Corporation 29/12/20
This article focuses on the recent “change of control” guidance issued by the SBA to its PPP lenders (the “Guidance”) and, more specifically, how that Guidance affects insolvent PPP borrowers when they need to sell assets. As explained in more detail below, the recent SBA Guidance simply does not work when dealing with insolvent PPP borrowers....
By: Foley & Lardner LLP