Paycheck Protection Program: An Update on Loan Forgiveness Calculation Webinar (2 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 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
     
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
     
Bottom
Prerequisite: 

None.

Preparation: 

No advance preparation required.

Level of Knowledge: 

Overview.

CPE Credit: 
2.00
NASBA Field of Study: 
Finance