The Paycheck Protection Program (PPP) from the U.S. Small Business Administration (SBA) was rolled out to provide critical support to countless businesses heavily affected by the COVID-19 pandemic. One aspect of the loan is especially enticing to borrowers: loan forgiveness. With many businesses now halfway through the eight-week period to spend their loan proceeds, the issue of properly calculating loan forgiveness amounts is of critical importance. Join BKD Trusted Advisors™ as we review these provisions to help you navigate the rules around this significant issue. Given the widespread impact of this program, we have also allotted extra time for a Q&A to help provide clarity around this complex topic.
Upon completion of this program, participants will be able to:
- Describe general guidelines and guardrails for PPP loan forgiveness
- Discuss best practices to identify, account for and document qualified expenditures during the eight-week PPP coverage period
- Discuss answers to frequently asked questions we have been receiving from clients