Covid-19 Legal Resources Blog

Free Webinar: SBA Payroll Protection Program

We are here to help our community understand and take full advantage of the Payroll Protection Program. This is a new SBA loan program which in many instances can be converted into a grant. In other words, if you follow the requirements of the program, you may not have to pay back the loan, as it will be forgiven.

Please join us on Wednesday, April 8 at 1:00pm EST where we will have a panel of financial professionals explain the Payroll Protection Program in common sense language and provide simple steps to help guide you through the application process, including the specific documents needed to complete the application. If your business has less than 500 employees, you likely qualify, but you will need to take immediate action to take advantage of this time sensitive program.

Webinar Topics Will Include:

  • Paycheck Protection Program vs. Economic Industry Disaster Loans
  • Average Monthly Payroll Calculation
    1. Wages (<$100k)
    2. Distributions to owner/partner
    3. Group health insurance
    4. Retirement benefits
  • Loan Application Process
    1. SBA Lenders
    2. 2 year term @ 1% interest
    3. Required forms and other application data
  • Loan Forgiveness Process
    1. Qualified expenses
    2. Timeline
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