brokers – sign this petition today
P.P.P. loans could halt deals. Jim Parker, Deborah Carman, and ourselves fully support passage of the Paycheck Protection Small Business Protection Act.
By Matthew Lyon
JULY 23, 2020
The State Chairman of the Business Brokers of Florida, Jim Parker, along with Deborah Carman of Carman Law Firm, P.A., and ourselves, have created another petition for the 7(a) program community. As you might have heard, if a seller has a P.P.P. loan, the transaction could potentially be put on hold. “There is a very good chance that you need consent from the bank that provided the P.P.P. monies. Getting consent from the bank may not be as easy as you would think.” We are looking for 10,000 signatures, so please send this to anybody and everybody that you know. Sign and share the petition today.
Senator Kevin Cramer from North Dakota introduced the Paycheck Protection Small Business Protection Act, which this petition supports and has bipartisan support in the Senate. This bill will provide automatic forgiveness to any P.P.P. loan under $150,000, eliminating the need for P.P.P. lender approval for acquisitions. We need to help ensure that this bill passes and is incorporated into the next stimulus package to avoid a giant headache with sellers that have a P.P.P. loan. Watch this video to learn more.
We would greatly appreciate your support for this petition and the 7(a) community as a whole. We want to avoid this potential mess that it would cause for us all.