Paycheck Protection Program: An Update on Loan Forgiveness Calculation Self-Study Webinar (2.5 Hours)

Overview: 

The Paycheck Protection Program (PPP) is a new loan/grant program designed to assist small businesses impacted by COVID-19. Established by the US Small Business Administration, this unique program allows loans to be forgiven, provided the funds are used in the requisite manner. Understanding how to calculate the loan principal that may be forgiven is a crucial aspect of utilizing the PPP. This comprehensive self-study webinar will cover the information needed to understand the loan program, how the loan is forgiven, how it is calculated, the latest updates, and more. You will:

  • Gain an in-depth understanding of the Paycheck Protection Program
  • Explore provisions of how a loan is forgiven, using detailed examples
  • Identify what has changed and what we still don’t know about the program to date
  • Learn how to properly calculate the amount of PPP loan principal that may be forgiven
Objective: 

To provide CPAs and other financial professionals with an understanding of the Paycheck Protection Program, to enable them to determine if the program is right for certain situations, to help them anticipate if the loan would be forgiven, and to inform them of how to determine the amount they can have forgiven.

Emphasis: 
  • PPP program background
  • Eligible loan calculation
  • Forgiveness components
    – 60% use of funds towards payroll
    – Reductions of salary over 25%
    – Full-Time Equivalent comparisons
    – Exceptions to forgiveness calculations
  • Questions that need to be clarified by the Small Business Administration

Identify the allowable use of funds received through the Program

Identify the employee threshold cutoff for participation in the program

Recognize the relative demand for the original Program funds

Identify the primary reasons behind the subsequent Paycheck Protection Program and Health Care Enhancement Act legislation

Recognize the way the available loan amounts under the Program are determined

Recognize the necessary borrower certifications under the Program

Identify the maximum amounts forgivable under the Program

Recognize the thresholds for wage reduction and use of loan proceeds on payroll that will cause a reduction in the loan forgiveness amount

Identify the Program’s loan maturity date after expansion under the Paycheck Protection Program Flexibility Act
 

Bottom
Price: 
$129.00
Prerequisite: 

None.

Preparation: 

No advance preparation required.

Level of Knowledge: 

Overview.

CPE Credit: 
2.50
NASBA Field of Study: 
Finance