Mr. Atchley is an associate in Davis Polk's Litigation Department. [Full Bio]

The SBA has issued a long-awaited Procedural Notice providing guidance on the procedures for changes of ownership of an entity that has received Paycheck Protection Program funds.

Our memorandum contains flowcharts outlining when SBA consent is required for M&A transactions involving borrowers that want to sell their business to another
Continue Reading SBA Guidance: M&A Transactions and PPP Borrowers

President Trump signed a $484 billion stimulus bill into law today as part of the U.S. government’s ongoing efforts to contain the economic damage from the COVID-19.  The bill passed the House of Representatives and the Senate earlier this week with broad bipartisan support.

The measure is designed to supplement
Continue Reading SBA Paycheck Protection Program to Receive Additional Funding

The Senate Republicans recently released a proposal for Phase 3 of the government’s stimulus response to the coronavirus (COVID-19) emergency.  Our rush summary describes certain key portions of that proposal that we think will be of interest to our clients and friends. We cover the return of the money market
Continue Reading Senate Republicans Release a Stimulus Proposal to Combat Economic Impacts of Coronavirus