This Thursday, June 18th, Potomac Law Partner Derek Adams will lead two webinars centered on the Paycheck Protection Program (PPP). The first webinar is designed for eligible businesses and nonprofits that have not yet taken out a PPP loan, and the second webinar is for those who already have loans in place. Learn more about both webinars below!
More Than $100 Billion Left in the Paycheck Protection Program: Don’t Miss Out
There is still more than $100 billion in funding left for eligible businesses and nonprofits to obtain potentially forgivable loans under the Paycheck Protection Program (PPP). But the window to take advantage of this program is closing, and ends on June 30.
This webinar will cover updated PPP rules and requirements for those who have not yet obtained a PPP loan. The program has changed significantly since it was first rolled out two months ago, including through the Paycheck Protection Program Flexibility Act of 2020, signed into law on June 5. For many organizations, the original PPP rules were too restrictive and they declined to participate. Those rules have now loosened with 24 weeks (instead of 8) to spend your money, a reduction from 75 percent to 60 percent for use on payroll expenses, more safe harbors instituted for FTE reductions, longer deferment of interest and principal, and a safe harbor for loans under $2 million from SBA review of the need-based certification. The window to apply ends this month.
During the webinar, we will discuss:
- Qualification
- Loan amount
- Use of funds
- Updates and changes to program
- Added flexibilities for borrowers
- Loan forgiveness process
Webinar objectives include:
- Determine if a PPP loan is right for your organization
- Consider benefits and risks of a PPP loan
- Be armed to make the right decision before it is too late to participate
- Learn about program changes and new flexibilities for borrowers
Who should attend? This webinar is best suited for:
- Business owners
- Chief Executive Officers
- Chief Financial Officers
- In-house counsel
- Controllers
To register, please fill out this form. Registrants will be sent an email including the Zoom call instructions for the webinar.
Maximizing Forgiveness: New Rules Under the Paycheck Protection Program Flexibility Act of 2020
- Understand the changes implemented by the PPP Flexibility Act
- Learn how the new rules will apply to your organization
- Understand the loan forgiveness process and expected steps
- Be aware of potential forgiveness reductions, as well as safe harbors
- Understand how to mitigate risk during an SBA review
- Business owners
- Chief Executive Officers
- Chief Financial Officers
- In-house counsel
- Controllers
To register, please fill out this form. Registrants will be sent an email including the Zoom call instructions for the webinar.
