This presentation will cover the latest guidance regarding PPP Loan Forgiveness including a review of the application instructions (May 15), Interim Final Rule – Requirements on Loan Forgiveness (May 22) and the Paycheck Protection Flexibility Act (June 5). Many of the open questions and interpretations of the Cares Act and Paycheck Protection Program have been clarified with this latest guidance. Borrowers will need to understand the new regulations and guidance as they plan for and eventually file their loan forgiveness application.
Understand the options for selecting your covered period or alternative covered period
Understand how to calculate the amount of allowable Payroll and Nonpayroll Costs that are eligible for forgiveness
Understand the specific definitions of allowable Nonpayroll costs for mortgage interest, rent and utilities.
Understand the loan forgiveness process and timeline
Level & Prerequisites: This is a group-internet based program at the Basic Level. No prerequisites or advanced preparation required.