George Shaw, CPA and
Kimberley Train, CPA, ABV hosted a webinar on Monday, June 22nd entitled, "PPP Loan Forgiveness Update – Critical Changes for Borrowers." They discussed the Paycheck Protection Program and the Paycheck Protection Flexibility Act to outline key elements essential to maximizing loan forgiveness. DGC has a proven process that incorporates our data analytics experience and accounting expertise. Learn how you can proactively apply this to your situation, and lead to increased loan forgiveness.
Topics included:
- CARES Act language and provisions
- Eight-week vs. 24-week covered periods
- Changes to requirements in the proportional allowable uses
- Additional safe harbors
- Extension in loan maturity and deferment period
- Considerations before you decide on which covered period to elect
- Timing on loan forgiveness application process (bank, SBA and audit timelines)
- Impact of PPP on M&A transactions
- Considerations and cautions before you request forgiveness
***Click here to download the slides from the presentation***
If you have questions about PPP Loan forgiveness, please contact a member of your DGC client service team or George Shaw, CPA at 781-937-5125 / gshaw@dgccpa.com or Kimberley Train, CPA, ABV at 781-937-5112 / ktrain@dgccpa.com for more information.
You can also visit DGC's coronavirus web page at dgccpa.com/coronavirus which is frequently updated with new resources to help you deal with the financial impact of the coronavirus on you and your business.
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