Selling a business after PPP? You’ve got to ask nicely

The U.S. Small Business Administration (SBA) recently issued a new policy notice to Paycheck Protection Program (PPP) lenders with regards to business owners with a PPP loan that may be contemplating a change of ownership or a business sale. The SBA must now consent to any change in ownership save for some limited exceptions, complicating matters for business owners. New policy guidelines from the Small Business Administration complicate sale of a business for recipients of PPP loans. The key…