Loan Forgiveness Under the Paycheck Protection Program

Loan Forgiveness Under the Paycheck Protection Program

Tuesday, May 12, 2020, 2:00 PM – 3:00 PM

Thousands of New Jersey businesses have already received loan approvals under the first round of funding of the federal government’s Paycheck Protection Program (PPP). Borrowers can begin to apply to their lenders for loan forgiveness eight weeks from the date of their loan origination, but how do you go about this process? Businesses that wait until they have already spent the loan to learn what the forgiveness rules are, may make a mistake they cannot recover from. During this timely program, attorneys from Szaferman Lakind will identify eligible PPP expenses and the proportion you may spend on each to remain eligible for loan forgiveness. Attorneys will also explain complicated PPP rules related to the number of employees that businesses must retain on their payroll in order to avoid jeopardizing potential loan forgiveness.

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