The SBA notice includes a safe harbor, 因为出售或其他所有权权益转让或合并不需要小企业管理局的批准，如果转让是 50 percent or less of the ownership interest of the PPP borrower or 借款人提交贷款减免申请，要求充分使用贷款收益，并向贷款人提供证明文件.
必须设立一个计息的、由贷款人控制的代管帐户，其资金必须等于未偿贷款余额.
Transactions involving 50 percent or more 如果借款人完成了贷款收益的全部使用宽免申请，并建立了所需的托管账户，则借款人的资产也不需要SBA的批准.
我们预计，买家和卖家会更快地申请豁免，因为这一新的同意(或者更确切地说，没有最初的同意)涉及托管的例外.
For those transactions involving more than 50 percent of assets, SBA的批准将以采购实体承担PPP贷款下所有PPP借款人的义务为条件, including responsibility for compliance under the PPP loan terms.
还有一些关于股票销售和合并的附加规定, regardless of whether the SBA’s approval is required. 借款人或其在合并中的继承人仍对所有贷款义务负有责任.
Of important notice to organizations who are structuring M&A transactions are the following:
- Prior to the closing of any change of ownership transaction, PPP借款人必须书面通知PPP贷款人，并向PPP贷款人提供一份拟实施交易的拟文件副本.
- 根据所有权变更的情况以及购买力平价票据是否得到满足，影响借款人的要求有很大差异. 在交易完成之前，一些所有权的变更可能需要小企业管理局的批准. 这些要求还可能向纳税人提交与潜在托管基金相关的流动性和税收规划决定.
- Regardless of circumstances for a sale or transfer, PPP借款人将继续履行PPP贷款项下的所有义务. In addition, if the new owner(s) use PPP funds for unauthorized purposes, SBA will have recourse against the owner(s) for the unauthorized use.
- 若任何新业主因所有权变更而获得另一项PPP贷款, PPP借款人和新业主负责区分和划分PPP资金和费用，并为每个PPP借款人提供文件，以支持其遵守PPP协议.
As you can see, even though there has been some clarity, these guidance issues are complex, and the resulting compliance can directly impact your bottom line.
如果你需要在分析、组织、谈判和执行M&A and investment transactions involving PPP loans, 确保你正在和你的税务顾问进行这些重要的谈话.
