About

Peter Carson is a partner in the Finance & Bankruptcy Practice Group in the firm's San Francisco office.

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On October 2, 2020, the U.S. Small Business Administration (SBA) released a Procedural Notice providing guidance addressed to Paycheck Protection Program (PPP) lenders and SBA employees as to the circumstances under which prior SBA approval is required before a borrower of a PPP loan undergoes a change of ownership.[1]  In particular, the October 2, 2020 Procedural Notice includes instructions to PPP lenders on how they may address equity or asset M&A transactions, ownership restructurings, or transfers of ownership interests involving their PPP borrowers.  Importantly, the October 2, 2020 Procedural Notice does not clearly address the circumstance of a… Continue Reading The October 2, 2020 SBA Procedural Notice: Change of Ownership Transactions Involving PPP Borrowers

About

Peter Carson is a partner in the Finance & Bankruptcy Practice Group in the firm's San Francisco office.