Barton Haag | Albin, Randall and Bennett

PPP Loans and Buying or Selling a Dealership

We are seeing more buy/sell activity in the auto industry. During the documentation phase of these transactions we’ve been advising sellers, and buyers, what should be done about outstanding PPP loans when an application for forgiveness hasn’t been submitted or approved. Our advice has been to deposit the PPP funds in escrow until the borrowing


Senate Passes Bill Granting Flexibility to PPP Borrowers

The senate passed the House bill last night to change the PPP loan program. It appears they passed the house version “as is” in order to avoid delays going to conference to reconcile. The bill has now been sent to the President for his signature. As always, we will keep you informed as additional information becomes available. We