The Paycheck Protection Program and the New Forgiveness Applications Webinar

Since the passage of the Paycheck Protection Program Flexibility Act on June 3, we have received important, new borrower-friendly changes, including two new and revised loan forgiveness applications and another Interim Final Rule. These changes will determine if, when, and how your clients with PPP loans will be able to have them fully or partially forgiven. The presenters have tracked each change and its implications and will tell you what you need to know to help your clients obtain maximum PPP loan forgiveness.
Highlights

• Analysis of the two new PPP loan forgiveness applications
• Expansion of the 8-week period within which to use PPP loan funds to 24 weeks
• 60%/40% expenditure applications
• Revised compensation calculation for non-owner employees
• Expansion of the loan period to 5 years
• December 31, 2020 rehire deadline
• SBA position relating to auditing loans
• What business circumstances make for loan eligibility
• Eligible and ineligible payroll costs
• Definition and calculation of full-time equivalent employees
• Covered period and alternative payroll covered period
• Dealing with workers rejecting a good faith offer to rehire
• What expenses count as covered utility payments
• Borrower’s representations and certifications
• General rules regarding forgiveness of EIDL program loans