fbpx

< Back to Thought Leadership

PPP Loans & Change of Ownership Transactions

At Blue & Co. LLC, we continue to monitor and disseminate impactful information to our clients in connection with their PPP loans advanced through the SBA in connection with the CARES Act.

Some clients that have received PPP funds have raised concerns about entering into transactions (on either the sell or buy side) with parties that have also received PPP funds and how that will ultimately impact forgiveness on the loans. On Friday, October 2nd, the SBA released a SBA Procedural Notice detailing the impact concerning the required procedures for changes of ownership of an entity that has received PPP funds. Specifically the Procedural Notices addresses:

  • Cases in which SBA prior approval is not required.
  • Cases in which SBA prior approval is required.
  • All sales or other transfers of common stock or other ownership interest or mergers, whether or not the sale requires SBA’s prior approval.

Click here for a complete release of the Procedural Notice.

If you would like additional information or further discussion on how this impacts your organization, please contact your local Blue & Co. advisor. 

Beneficial ownership information report

Beneficial Ownership Information Report –New 2024 Requirement

By Amy Sandlin, CPA, Tax Quality Control at Blue & Co. Tens of millions of businesses are estimated to be now required to file a Beneficial Ownership Information Report (“BOIR”) […]

Learn More

CMS 2024 Physician Fee Schedule Update

Every year the Centers for Medicare and Medicaid Services (CMS) publishes their annual Final Rule, which contains updates to the Physician Fee Schedule that impact what healthcare organizations are reimbursed […]

Learn More

Contract Labor: the Benefits, the Risks, and Best Practices

Contract labor refers to a flexible work force not considered permanent and is often engaged to perform services for a predetermined period. This applies to all disciplines and may include […]

Learn More