CIHLER: PPP Loan Forgiveness: What Borrowers Need to Know

Since enactment of the CARES Act, the Paycheck Protection Program has grabbed its fair share of headlines, and needless to say, many have been far from positive. While it is true that implementation of the PPP and related FAQs issued by the Small Business Administration in consultation with the U.S. Treasury have been ripe for justifiable criticism, there is no denying the extraordinary benefits of the loan program when proceeds are spent as intended—in short, free money for businesses in the form of forgiven loans (read: grants) that can help to offset lost revenues during the COVID-19 crisis.

As the time now approaches for PPP loan forgiveness applications to be submitted, it is of paramount importance that borrowers fully understand their obligations so as to optimize amounts that may be forgiven. In this webinar – “PPP Loan Forgiveness: What Borrowers Need to Know” – attorneys from Michelman & Robinson address the particulars of the loan forgiveness process. In addition, insight will be given into first-of-its-kind litigation recently filed by the firm challenging federal guidance that places forgiveness at risk for some businesses.

Topics

• The PPP From A to Z: Background and Purpose of the Federal Loan Program
• Who Says There Is No Such Thing as a Free Lunch: the Ins and Outs of Loan Forgiveness
• The Proof Is in the Pudding: How to Properly Track and Document PPP Loan Spending
• Dotting I’s and Crossing T’s: Completing the Loan Forgiveness Application
• Order in the Court: a Look at Zumasys v. United States Small Business Administration, et al., the PPP-Related Lawsuit Filed by M|R and Covered in the New York Times, Washington Post, Yahoo, Forbes, Among So Many Others

Panelists

• Mona Hanna (Department Chair)
• Bryan Johnson (Partner)