Brinker Simpson & Company, LLC hosted a webinar Monday May 4th, 2020 to provide an overview of coronavirus related lending resources available including an overview of and updates on the Main Street Lending Program. The majority of the webinar covered updates to and new guidance on the Paycheck Protection Program, including significant coverage of forgiveness related questions.
The webinar addresses many commonly asked questions about the PPP and the related forgiveness.
There are still major areas of uncertainty, including critical forgiveness calculation information. The CARES Act required final guidance by April 26, 2020. At this time, the final guidelines have not been released. The SBA added and FAQ this week to clarify that there would be no reduction in forgiveness for borrowers when employees decline an offer to return to work.
A recording of that overview and the following Q&A from participants can be viewed HERE
We will host a webinar to provide details on the final forgiveness calculations and guidance as soon as the SBA & Treasury issue that information. At that time, we will also provide a workbook calculate estimated forgiveness, track costs over your covered period, and to otherwise help you prepare in advance to apply for forgiveness.