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Considerations for Nonprofits with Paycheck Protection Program (“PPP”) Loans That Are Looking To Merge or Dissolve

October 8, 2020

If you’re organization is anticipating a merger or sale of assets with dissolution, and either of the parties to the deal have received a PPP loan, there are important considerations for your nonprofit to keep in mind. On October 2, the SBA released further guidance on what happens to PPP funds where there is a change in company or asset ownership. Read THIS ARTICLE to learn more about how a merger or asset sale could impact PPP loan forgiveness, when SBA approval of the transaction is necessary, and best practices on how to handle PPP funds between two merging organizations.

Category: Articles, COVID-19, Resources
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Next Post:Simplified Forgiveness Forms and Requirements for Paycheck Protection Loans of $50,000 or Less

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