The COVID-19 crisis has impacted businesses throughout the country. The SBA Paycheck Protection Program (“PPP”) has authorized up to $349 billion in forgivable loans to small businesses to pay their employees during the COVID-19 crisis. As you most likely learned, last Friday the program ran out of funds and current the Federal Government is planning to re-fund it, most likely sometime this week.
So, whether you have not applied, started to apply but stopped when funds ran out, applied and were turned down or got no response, even applied and got funds… you may still need insight from a trusted source and Gene Barinholtz CPA from KRD can offer this. For those who are not aware, Mr. Barinholtz has been the CPA for the ABPA for several years and is actively assisting his clients in navigating these loans.
Mr. Barinholtz and tax manager, Paul Wilkin, CPA will discuss who is eligible for this program, how much money your business can receive, and other important program provisions. They will also walk you through the PPP Loan application process and share what documents you’ll need for your bank.
For those who have received or anticipate PPP funding, we will also share how your PPP loan funds should be spent and how they should be tracked so you loan can become eligible for forgiveness. We’ll also have a Q&A session at the end of our webinar.
As the funding for the second phase for the SBA PPP will likely be passed this week, you are encouraged to start the process now (if possible) as banks as already backlogged with applications.
The webinar will be held on Thursday, April 23 at 11AM CST / 12PM EST and will run for approximately 1.5 hours.