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PPP Loan Update - SBA New June 22 Interim Final Rules Pave the Way to Mid Period Forgiveness and More-- Time to Apply for Forgiveness!



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Join LISI commentators Alan Gassman, Brandon Ketron and Kevin Cameron for an engaging and thorough 90-minute discussion of where PPP borrowers stand with respect to forgiveness rules after the June 22nd Interim Final Rules which now allow borrowers to apply for forgiveness once the borrower has used all of the loan proceeds even if this is prior to the end of the 24 week period! They will discuss what loans will qualify for 8-weeks, what loans will be required to use 24-weeks, and how to handle employee compensation and payroll hour reductions, and applicable safe harbors associated therewith. 

In addition to the foregoing, Alan/Brandon/Kevin will cover the following points:

  • The new limitations that apply for salaries and benefits provided to  shareholders of S and C corporations, and what questions remain unanswered.
  • An organized review of the Interim Final Rules released on June 11th , 12th and 17th.
  • What borrowers  can apply for loan forgiveness using the new Loan Forgiveness Application Form EZ.
  • A discussion and review of the revised PPP Loan Forgiveness Application and what has changed from the original form.
  • A review of the numerous exceptions to having to match or exceed historical wages and hours for struggling businesses.  
  • And more!


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