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The Pitfalls of the Paycheck Protection Program (PPP)
April 3, 2020 @ 2:00 pm - 3:00 pm EDT
Getting the loan is easy. Getting the loan forgiven is NOT.
Loan Forgiveness is NOT automatic! Starting on the loan origination date, owners have an 8 week period to CORRECTLY spend the loan money. Business decisions made during this critical time frame determine how much of the loan is forgiven. A PPP loan can be FREE money but will need to understand HOW to use it or you may end up with an unintentional SBA loan at the end.
This workshop will cover:
- what you should know to calculate the PPP loan amount.
- what you should know to maximize the amount of loan forgiveness you receive.
You SHOULD attend if:
- You have paid W2 employees at any point in the past 12 months.
- You have paid 1099 employees at any point in the past 12 months.
- You are self-employed and had a net profit of more than $50k in the past 12 months.