June 8, 2020
Small businesses across the country have received loans from the SBA Paycheck Protection Program (PPP). These loans have been tremendously popular, provided much-needed capital to businesses affected by COVID-19, and have an unprecedented loan forgiveness provision written in the loan.
The Senate recently passed some game-changing legislation already passed by the House related to PPP forgiveness that is expected to be signed by the President yet this week. There’s never been a more critical time to review the SBA’s Loan Forgiveness Application and associated rules to make sure that your business is taking the proper steps to have its loan forgiven.
- How does the new Paycheck Protection Flexibility Act affect borrowers?
- What costs are eligible for loan forgiveness?
- What are the potential reductions to loan forgiveness?
- What documentation is needed to complete the Loan Forgiveness Application?
- What are the federal income tax implications of the loan forgiveness?
- What are a bank’s responsibilities in this process?
The presentation will include a short Q&A segment if time permits. Submit questions in advance at bprusila at lakecountypartners dot com.
Join us Tuesday, June 9, 2020 at 11 A.M. using the call in information below:
Meeting ID: 852 0064 5420