Start Date: 10/1/2020 1:00 PM MDT
End Date: 10/1/2020 2:30 PM MDT
The Paycheck Protection Program (PPP) was created to help small businesses impacted by the COVID-19 outbreak retain and pay employees and maintain their business operation. In return for complying with the PPP requirements set by the U.S. Small Business Administration (SBA), the PPP loan would be forgiven. While the SBA issued regulations to guide lenders through the forgiveness process, the process has continued to evolve and the prospect of PPP changes by Congress has made implementing a PPP loan forgiveness protocol challenging for most lenders.
This webinar will explain the current PPP loan forgiveness process and timeline. It will outline participating lenders’ responsibilities in processing loan forgiveness applications and address challenges encountered with loan forgiveness decisions. Participants will gain helpful tips to assist borrowers prepare and submit loan forgiveness applications. You’ll learn how to document and service a PPP loan that is not forgiven, or is determined to be ineligible, and what to consider if your institution is not interested in retaining its PPP loan portfolio.