WEBINAR - Paycheck Protection Program (PPP) Loan - Reasonable Accountability and Forgiveness Approaches
5/26/2020 at 11:00 AM to 12:00 PM
Speaker: Frank J. Macciocca, Esq.
1 Substantive Credit
Key takeaways for a Continuing Legal Education (CLE) participant include: * To understand the post-application process and your responsibilities when accepting the loan proceeds. * To learn about what continues to be a moving target of mixed Small Business Administration (SBA) and Department of the Treasury guidance. * To establish a baseline for communication with the lender about your documented accounting for eligible costs (e.g. payroll, rent, utilities). * To formulate ways to partner with the lender to maximize your chances of receiving 100% loan forgiveness so the PPP loan converts into a grant. * To feel comfortable making a business decision regarding the consequences of restoring full-time equivalents (FTEs) and its impact on loan forgiveness. * To prepare for possible disputes or controversies and how to assist both your firm and your clients navigate roadblocks after the end of PPP’s 8-week covered period.