Recorded: Wednesday, May 20, 2020
About the Program
The Coronavirus Aid, Relief, and Economic Security Act (CARES Act), signed into law by President Trump on March 27, 2020, is a $2 trillion relief package aimed at helping alleviate some of the impact that the COVID-19 pandemic has had on U.S. businesses. The CARES Act created the Paycheck Protection Program (“PPP”). The PPP amends the Small Business Act (“SBA”) to provide short term loans to companies with fewer than 500 employees.
The SBA has just issued its forgiveness application, which is over 10 pages, and is the first piece of significant guidance from the SBA on the subject. For instance, it provides a definition for full-time equivalent employees, when PPP funds may be used, how forgiveness will be determined and much more. While we expect further regulations any day, this provides companies with much needed information to help begin preparing for forgiveness.
FordHarrison attorneys Bran Noonan, Matthew Luttinger, and Ryan Stewart will go through all of the intricacies of forgiveness based on such new guidance.
Continuing Education
Registration
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