Maximizing Loan Forgiveness Under the Paycheck Protection Program
With Paycheck Protection Program (PPP) loans being disbursed to businesses, now is the time to implement good processes and tracking mechanisms to maximize loan forgiveness. The PPP has been advertised as a grant, and, in many respects, it can function like one. However, the onus is on businesses to earn 100% loan forgiveness within an eight-week window starting on the day the funds are disbursed. Many will find this a difficult endeavor as current guidance from the Department of Treasury and Small Business Administration (SBA) is sparse.
On May 6, 2020, we hosted a webinar conversation featuring Chad Halstead and Zach Sauder of Katz, Sapper & Miller, along with Greg Gorospe of Ice Miller and Doug Talley of The National Bank of Indianapolis, where we discussed:
- Navigating the economic uncertainty good faith certification
- Strategies for maximizing loan forgiveness
- Tax implications of loan forgiveness
- Best practices for tracking eligible expenses
- Other loan forgiveness frequently asked questions
Watch the full webinar here:
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