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SBA Programs & PPP Loan Forgiveness Updates [SBDC]
November 5, 2020 @ 11:00 am - 12:00 pm PST
The U.S. Small Business Administration (SBA), in consultation with the Treasury Department, has released a simpler loan forgiveness application for Paycheck Protection Program (PPP) loans of $50,000 or less. This action streamlines the PPP forgiveness process to provide financial and administrative relief to America’s smallest businesses
Representatives from the SBA and the Washington State Small Business Development Center (SBDC) will review the PPP Loan Forgiveness regulations and related applications. This will be a one-hour presentation followed by 30 minutes of Q&A.
Topics Covered:
•PPP Loan Forgiveness Forms
•Changes from to PPP forgiveness application
•Definitions of Payroll Use, Costs, Covered Period & Time Frame
•Definitions of Covered Period
•Self Employed Individuals/Sole Proprietors
•Lender Process for Loan Forgiveness & Safe Harbors
•Documents needed to prove loan eligibility and forgiveness
•Deduction of EIDL Advance from Loan Forgiveness
•Representations, Certifications, Audits, Appeals
•Step by Step Examples of the Loan Forgiveness Applications
Presenters:
Steve Burke, Washington SBDC Certified Business Advisor
Janie Sacco, Marketing and Outreach Specialist, Seattle District Office, U.S. Small Business Administration
Mark Costello, Deputy District Director, Seattle District Office, U.S. Small Business Administration
