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How COVID-19 impacts succession planning for construction firms

The construction industry has experienced an ideal business transition environment over the last decade but was hit hard by the COVID-19 pandemic in early 2020. Suddenly, all the growth and opportunity for M&A came to a halt as markets slowed and states went into lockdown. These events left many construction industry leaders wondering when, or even if, they’ll be able to […]

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PPP loans of $50,000 or less get simplified rules from the SBA

The Small Business Administration (SBA) and Treasury announced on October 8 that a simplified application (Form 3508S) for Paycheck Protection Program (PPP) loan forgiveness is now available for borrowers whose loans fall in the $50,000 or less threshold. As more and more businesses begin filing for PPP loan forgiveness, this change outlined in a new interim final rule greatly simplifies the process for borrowers […]

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Buying or selling a business with a PPP loan: What you need to know

With the M&A market in flux after all the unexpected challenges of 2020, buyers and sellers are likely wondering how their Paycheck Protection Program (PPP) loan comes into play in an M&A transaction. On Oct. 2, we got some answers when the Small Business Administration (SBA) released guidance on what to do if you are […]

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Tips and PPP loan documentation for nonprofits

The Paycheck Protection Program (PPP) has been a lifeline for thousands of businesses and organizations in the U.S. since its inception in the CARES Act by providing much needed funds to keep people employed and businesses afloat. Nonprofits have benefited from this program as well since much of their funding has been up in the […]

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