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May 21 Webinar: SBA Releases PPP Loan Forgiveness Application; What You Need to Know

Thursday, May 21st, 2020

On the evening of Friday, May 15, 2020, the SBA released the Paycheck Protection Program (PPP) Loan Forgiveness Application. You can read our article about this by clicking here.

While the application didn’t answer all of our questions, it did clear up some very vague areas in the CARES Act and subsequent guidance regarding loan forgiveness. David Blain (Partner and Director of Entrepreneurial Services) and Mark Heath (Partner and Director of Tax Services) with McKonly & Asbury, provided a summary of the application as well as talked through the highlights and what you need to know.

You can download a copy of the slides presented by clicking here.

There were many questions that came in during the webinar and in the days that followed; you can download an FAQ response sheet to get the answers to these questions on payroll costs, non-payroll costs, FTE, and other topics by clicking here.

This free, 90-minute webinar took place on Thursday, May 21st at 2:00 p.m. EST. This program was a live webinar which offered the opportunity to ask questions and interact with the presenters.

If you have any questions regarding the material covered in this webinar, please contact us at

This communication is intended to provide general information on legislative COVID-19 relief measures as of the date of this communication and may reference information from reputable sources. Although McKonly & Asbury has made every reasonable effort to ensure that the information provided is accurate, we make no warranties, expressed or implied, on the information provided. As legislative efforts are still ongoing, we expect that there may be additional guidance and clarification from regulators that may modify some of the provisions in this communication. Some of those modifications may be significant. As such, be aware that this is not a comprehensive analysis of the subject matter covered and is not intended to provide specific recommendations to you or your business with respect to the matters addressed.

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