Understanding the PPP Loan Forgiveness Rules and the SBA Audit Process – Part I
The U.S. Small Business Administration in May published an official application form to guide borrowers in applying for loan forgiveness under the Paycheck Protection Program. But the rules are changing! Changes include extension of the eight-week period for spending the loan money and reduction of how much must be spent on payroll. The special rehire period, currently set to end June 30, is being pushed back. All of these factors will affect the amount of loan forgiveness and when to apply.
In this special two-part program, PPP experts from one of the top law firms in Washington, DC, will explain the mechanics of loan forgiveness and the impact of the legislative changes. Following the webinars, ASA will publish FAQs that address the questions posted by attendees throughout the webinar. Answers will focus on issues of general concern to staffing companies.
During this webinars, attendees will learn how to complete the SBA loan forgiveness form, including how temporary employees count in your FTE calculation, what costs can be included in “payroll,” and how to document employee rejections of job offers
Jason N. Workmaster, member, Miller & Chevalier Chartered
Marc J. Gerson, member and practice lead, government affairs, Miller & Chevalier Chartered
Alejandro (Alex) L. Sarria, member, Miller & Chevalier Chartered
Adam P. Feinberg, member vice chair, executive committee, Miller & Chevalier Chartered