Content Provider
Bradlyburnett logo2

Self-Study CPE
THE COST OF CAPITAL: THE WHEN, WHY, & HOW
View Details/Register
Cpe webinars
How New October 2nd SBA PPP Rules Restrict the Future of a Business

HOW NEW OCTOBER 2nd SBA PPP RULES RESTRICT THE FUTURE OF A BUSINESS

Cost $30.00
CPE Credits 1.5 hours
CE Credits 0.0 hours
Subject Area Finance
Course Level Basic
Instructional Method Group Internet Based
Prerequisites None
Advanced Preparation None
Course Description

Here we go again! More 11th hour changes to the PPP rules. These new changes can strap a business down and take away its options — options a company might very much need to survive COVID-19.

On Friday, October 2, the SBA issued more procedural rules. This time, any PPP loan recipient with an unpaid balance has its hands tied if it wants to sell, transfer, or merge its business or add owners. The lender and SBA now have the power to drag out the sale (transfer or owner shift) and demand compliance with up-’til-now wholly unknown protocol.

One more thing. Have you ever looked at the terms of an actual PPP promissory note? We have — interesting stuff. In due respect, most PPP borrowers don’t have a clue. The SBA keeps adding rules that automatically get included.

Learning Objectives:


  • List SBA’s new rules governing sale, merger, or asset transfers of a PPP borrower

  • Identify what lurks in the bushes upon a transfer of a PPP borrower’s business (or assets) or when new owners enter the mix

  • Identify what exactly is in a PPP promissory note anyway (and what keeps getting stuffed in)

  • List any related new SBA PPP rules

Linkedin
Bradlyburnett logo2

Bradley Burnett, J.D., LL.M., is a practicing Colorado tax attorney with 33 years of tax practice experience. His practice emphasis is on tax planning and tax controversy resolution. Mr. Burnett has delivered more than 3,000 presentations on U.S. tax law throughout all fifty U.S. states, Washington, D.C., the Bahamas, Italy, Greece, Turkey, and Canada. He has authored texts of 35 CPE courses. Mr. Burnett’s seminar-style delivers the subject matter in a briskly paced, enthusiastic, and witty fashion. His forte is the candid communication of practical ideas relating to tax law.

Frequently Asked Questions
  • To receive CPE credit, you must register for the webinar before it starts.
  • CPE is available to all eligible participants within 24 hours of each webinar.
  • To receive CPE for multiple attendees, at least one person must sign up for the webinar. The post-webinar email contains a link to instructions for the proctor letter. Alternatively, you may log in to your account following the webinar and click on the MY ACCOUNT button to find a link to instructions. For paid courses, payment needs to be made for each attendee before credit will be issued.
Handout Materials
Presentation Slides
Nasba

NASBA Approved

CPAacademy.org (Sponsor Id#: 111889) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org.

CPAacademy.org 1685 S. Colorado Blvd, Suite #205, Denver, CO 80222

About Our Presenter

Bradlyburnett logo2
Mr. Burnett has delivered more than 3,000 presentations on U.S. tax law throughout all fifty U.S. states, Washington, D.C., the Bahamas, Italy, Greece, Turkey and Canada. He has authored texts of 35 CPE courses.