PPP Procedural Notice Change in Ownership Summary

Updated 10/13/2020

This tool summarizes the requirements for change of ownership of PPP borrowers, issued October 2, 2020. For purposes of the PPP, a change of ownership occurs if i) at least 20% of the outstanding equity interest of a borrower is sold or otherwise transferred in one or more transactions, including to an affiliate or an existing equity holder of the borrower; ii) at least 50% of the assets (measured in fair market value) are transferred by a borrower; or iii) a borrower is merged into another entity.

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