Understanding The Paycheck Protection Program Flexibility Act
Name:
Understanding The Paycheck Protection Program Flexibility Act
Date:
June 17, 2020
Time:
11:00 AM - 12:00 PM EDT
Event Description:
For the millions of borrowers under the Federal Paycheck Protection Program (there are 2,571,167 approved loans as of May 19, 2020) critical questions surround whether their particular use of the loan proceeds during the 8-week covered period will prohibit having the loans forgiven (converted to a grant) by the government. Join attorneys Rebecca Warren and Graham Simmons from the Allentown office of Norris McLaughlin, P.A., for a detailed overview of the rules and instructions for applying for loan forgiveness.
This program will help explain:
This program will help explain:
- How the most recent legislation impacts the eligibility and covered period originally enacted in the CARES Act.
- What is included in the definition of “payroll payments” in order to meet the threshold for eligibility.
- What to expect if your business is one of the more than 30,000 borrowers who received a PPP loan of $2 million or more.
- The best way to avail your business of the safe harbor provisions and effectively cancel your loan.
- If an audit finding uncovers fraud, what steps might the DOJ take next?
- The Loan Forgiveness Application and instructions are intricate, but this program should resolve some anxiety and confusion.
