News & Analysis as of

Small Business Change of Ownership

Whitcomb Selinsky, PC

ALOG Corp's SDVO SBC Status Compromised by Stock Purchase Agreement

Whitcomb Selinsky, PC on

The eligibility of ALOG Corporation as a Service-Disabled Veteran-Owned Small Business Concern (SDVO SBC) was challenged in an appeal that centered around a stock purchase agreement that brought the veteran ownership of the...more

Bass, Berry & Sims PLC

SBA Tidies Up 8(a) Rules in Welcomed Final Rule

Bass, Berry & Sims PLC on

Effective May 30, 2023, a Small Business Administration (SBA) final rule made some notable changes to SBA’s 8(a) Business Development (BD) program, a valuable resource for those firms owned by socially and economically...more

Saiber LLC

Revisions to SBA Loan Rules Will Permit 7(a) SBA Loan Proceeds to be Used to Purchase Partial Changes in Business Ownership

Saiber LLC on

The Small Business Administration (SBA) is proposing revisions to its current lending rules with the potential to both expand access to business ownership for individuals and provide more flexible succession planning options...more

Schwabe, Williamson & Wyatt PC

Why You May Want to Wait to File for PPP Loan Forgiveness and Other Tips - Update #6

Most Paycheck Protection Program (“PPP”) borrowers are working toward full forgiveness of their PPP loans and are anxious to get this process started. A borrower generally may submit a loan forgiveness application any time on...more

Morrison & Foerster LLP - Government...

New Small Business Rules: 8(A) Program

As we recently discussed, the U.S. Small Business Administration (SBA) has published a long-awaited rule that made important changes to numerous small business contracting programs and the rules Federal agencies must follow...more

Farrell Fritz, P.C.

Are you selling your business or merging? … Not so fast, if you are a PPP borrower.

Farrell Fritz, P.C. on

Although the U.S. Small Business Administration (“SBA”) has started its program to forgive loans made to businesses under the Paycheck Protection Program (“PPP”), PPP borrowers and their lenders are cautioned to comply with...more

Pullman & Comley, LLC

SBA Issues Guidance on Change of Ownership Transactions and PPP Loans

Pullman & Comley, LLC on

On October 2 the U.S Small Business Association (“SBA”) issued a Procedural Notice outlining the requirements for the closing of change of ownership transactions for those borrowers who have loans under the Paycheck...more

Parker Poe Adams & Bernstein LLP

SBA Releases Long-Awaited Guidance on M&A Rules for Paycheck Protection Program Borrowers

The Small Business Administration (SBA) recently released a procedural notice concerning when a borrower of a Paycheck Protection Program (PPP) loan may forgo SBA approval in connection with a merger or acquisition. The...more

Burr & Forman

Structuring and Closing M&A Deals with PPP Loans: Some Good News

Burr & Forman on

The only certainty, so far in 2020, has been uncertainty. For dealmakers and their advisors this is not a helpful observation when they are attempting to close on transactions, often in spite of 2020’s vicissitudes. The Small...more

Gray Reed

The PPP Meets M&A: Pitfalls For The Unwary Borrower and Lender

Gray Reed on

The Small Business Administration (SBA) issued a Procedural Notice  on October 2, 2020, detailing required procedures impacting Paycheck Protection Program (PPP) borrowers and lenders if: (i) twenty percent or more of the...more

Schwabe, Williamson & Wyatt PC

Why You May Want to Wait to File for PPP Loan Forgiveness and Other Tips - Update #3

Most Paycheck Protection Program (“PPP”) borrowers are working toward full forgiveness of their PPP loans and are anxious to get this process started. A borrower generally may submit a loan forgiveness application any time on...more

Robinson & Cole LLP

PPP Update: SBA Procedural Notice - Paycheck Protection Program Loans and Changes of Ownership

Robinson & Cole LLP on

On October 2, 2020, the U.S. Small Business Administration (SBA) released a Procedural Notice (the Procedural Notice) that provides a framework to determine whether SBA consent is required for various changes of ownership of...more

Amundsen Davis LLC

M&A Transactions Involving PPP Loans: Important Guidance From The SBA

Amundsen Davis LLC on

On October 2, 2020, the Small Business Administration (SBA) issued Procedural Notice No. 5000-20057 addressing procedures applicable to a “change of ownership” of a borrower who has received a loan under the Paycheck...more

Goodwin

SEC Charges Trust Company With Operating Unregistered Investment Companies

Goodwin on

SEC Charges Trust Company with Operating Unregistered Investment Companies and Failing to Register Securities Offerings. On September 30, the Securities and Exchange Commission (SEC) announced it had settled charges with...more

Partridge Snow & Hahn LLP

SBA Issues Guidance on Treatment of PPP Loans in Mergers and Acquisitions

On October 2, 2020, the SBA issued guidance under a procedural notice (the “Notice”) providing information concerning the required procedures for changes of ownership of an entity that has received a Payroll Protection...more

Locke Lord LLP

Saving Our Small Businesses: Paycheck Protection Program Loans and Changes of Ownership

Locke Lord LLP on

On October 2, 2020, the Small Business Administration (“SBA”) issued a Procedural Notice (the “Notice”) regarding Paycheck Protection Program (“PPP”) loans and changes of ownership. Under previous rules, PPP lenders needed...more

Stinson - Government Contracting Matters

When the Government Asks for Required Information, Answer (But First Make Sure You Have Prepared for the Question).

You might think that this could go without saying, but apparently it can’t: If you want to succeed in your dealings with the federal government, you need to timely provide information required by law, particularly when...more

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