Sean Moran, shareholder and chair of Buchanan's oil and gas practice group, is quoted in the Washington Business Journal article, "Buying or selling a business? PPP loans will complicate the deal."
Meanwhile, small businesses are forced to navigate SBA rules that are not entirely clear. And if you sell your company without following the rules, you run the risk of an unforgiven PPP loan, according to Sean Moran, a shareholder at law firm Buchanan, Ingersoll & Rooney PC. Loans topping $2 million will also invite more intense scrutiny from the SBA, which has said it plans to audit larger loans regardless.