On Friday, May 15, 2020, the Small Business Administration (SBA) released its long-awaited Paycheck Protection Program (PPP) Loan Forgiveness Application & Instructions.
When the PPP loan program was announced back in March, it left business owners and their advisors with more questions than answers. The application and instructions are not without issues, but they do resolve several calculation and substantive questions that we have been seeking.
In this 1-hour live webinar, members of AAFCPAs Covid-19/CARES Act Task Force Courtney McFarland, CPA, MSA and Brittany Besler, MBA, CPA, Esq. provide borrowers with guidance and clarify some of the most notable PPP Loan issues and answers, including:
- What are the significant new elements and criteria outlined in the SBA’s PPP loan forgiveness application & instructions?
- What changed from our original estimates, and what remains unanswered?
- What are the requirements of backup documentation, and what needs to be submitted with the application?
- What are strategic approaches that will maximize the opportunity for allowable forgiveness?
- What are key considerations associated with your prior spending as it relates to reasonableness and forgiveness applicability under the newly designed application?
Watch the Webinar OnDemand
Recorded Thursday, May 21, 2020