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FOX ROTHSCHILD LLP: PPP in M&A: How Paycheck Protection Program Loans Could Affect Your Deal

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Sunday, November 24, 2024

FOX ROTHSCHILD LLP: PPP in M&A: How Paycheck Protection Program Loans Could Affect Your Deal

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Fox Rothschild LLP recently issued the following announcement.

When:

November 19, 2020

People:

Matthew R. Kittay, Christopher J. Pippett, Madison S. Clemens

Hosted By:

Fox Rothschild LLP

Location:

Webinar

2 pm ET | 11 am PT

The Small Business Administration recently set rules for dealing with PPP loans in M&A transactions. If either side in a deal has received a PPP loan, the parties must be prepared for increased scrutiny during due diligence, transaction timeline delays and certain valuation implications.

Join us for a webinar on these issues and more, including firsthand perspective from a company that recently completed an acquisition of a PPP loan borrower.

Topics will include:

What constitutes a “change of ownership” of a PPP borrower and when (and if) SBA approval is needed

What lenders must submit if prior approval by the SBA is required

PPP borrower liability

The effect of an escrow for the amount of a PPP loan

Timeline for obtaining SBA approval

Considerations for whether the PPP loan should be repaid or assumed in connection with the closing

Speakers:

Christopher J. Pippett, Partner and Chair, Financial Services Industry Practice, Fox Rothschild LLP

Matthew R. Kittay, Partner and Co-Chair, Mergers & Acquisitions Practice, Fox Rothschild LLP

Madison S. Clemens, Associate, Fox Rothschild LLP

Jamie Wilkerson, VP of Finance, Velocity Clinical Research

Original source can be found here.

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