Applying for PPP Loan Forgiveness Via Loan Forgiveness Portal: Application process and calculations, which application to file and impact of furloughing on loan forgiveness

$95.00

CLE credits earned: 1 General Credit (WA 1 Law and Legal)

The Small Business Administration (SBA) has opened its Paycheck Protection Program (PPP) loan forgiveness portal, allowing PPP lenders to submit applications seeking forgiveness of all or a portion of their borrowers’ PPP loans and banks will soon being accepting PPP loan forgiveness applications. In this CLE, we will review the PPP loan forgiveness process and discuss nuances and ambiguities in the process, including whether a business can apply before the end of the period for incurring forgivable costs and the impact of now furloughing employees on forgiveness.

This course is co-sponsored with myLawCLE.

Key topics to be discussed:

• Overview of the forgiveness application process.
• The SBA’s favorable guidance on the statutory reductions in forgiveness.
• Which forgiveness application to file – regular or EZ – and when to file.
• Impact of difficult decisions about furloughing on PPP loan forgiveness.

Date / Time: September 10, 2020

•   1:00 pm – 2:00 pm Eastern
•   12:00 pm – 1:00 pm Central
•   11:00 am – 12:00 pm Mountain
•   10:00 am – 11:00 am Pacific

Choose a format:

•   Live Video Broadcast/Re-Broadcast: Watch Program “live” in real-time, must sign-in and watch program on date and time set above. May ask questions during presentation via chat box. Qualifies for “live” CLE credit.
•   On-Demand Video: Access CLE 24/7 via on-demand library and watch program anytime. Qualifies for self-study CLE credit. On-demand versions are made available 24 hours after the original recording date and are view-able for up to one year.

Select your state to see if this class is approved for CLE credit.

Choose the format you want.

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Original Broadcast Date: August 25, 2020

Eric J. Kodesch | Lane Powell

Eric J. Kodesch is a Shareholder at Lane Powell, where he advises clients on paycheck protection program (PPP) loans and other CARES Act issues. He also has extensive experience with a wide array of federal income tax, and state and local tax issues, including general business planning, opportunity zone benefits, financial transactions, trust taxation, executive compensation and choice of entity issues. Eric received his J.D. from Columbia Law School and was named a 2019 “Legal Influencer” by Lexology. Reach him at kodesche@lanepowell.com and access Lane Powell’s PPP guidance at lanepowell.com/COVID-19ResourceCenter.
 
 

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