April 30 Webinar: My Paycheck Protection Program Loan is Funded – Now How Do I Ensure Loan Forgiveness?
Thursday, April 30th, 2020
The United States Treasury reported over $230 billion of funds have been released to over 4,600 banks throughout the United States to fund small businesses through the Paycheck Protection Program (PPP) loan program. Now that your business has been funded, you’ll need to focus on how to ensure loan forgiveness.
This webinar focused on the SBA’s requirements for loan forgiveness for PPP loans. David Blain and Mark Heath, Partners with McKonly & Asbury, discussed the requirements per the Interim Final Rule; what banks and other lenders will be looking for in the way of documentation; how to properly account for the loan; the use of funds and the forgiveness; and best practices to appropriately track funds use.
During this webinar, attendees learned:
- Details of the forgiveness function for PPP loans.
- Documents to retain and best practices for tracking activity of the funds.
- How to properly account for and record the loan activity and forgiveness matters.
Additional Resources
You can download a copy of the slides presented by clicking here.
During the webinar, we received a tremendous amount of questions that we couldn’t get to due to time constraints. Our team has answered many of those questions, and you can view the questions and answers by clicking here.
If you have any questions regarding the material covered in this webinar, please contact us at covid19@macpas.com.