Good Faith Certification by PPP Applicant, PPP FAQ 31 & Loan Forgiveness

Thursday, April 30, 2020

On April 30, 2020 Koontz & Associates, PL & Koontz & Parkin, CPAs tackled the new guidance on who should be receiving PPP loans, what factors to consider when determining good faith certification and loan forgiveness.

Good Faith Certification

5:08 Good Faith Certification. What is it?

8:17 Timeframe for your economic condition.

 

Factors to consider in Determining Good Faith Certification:

15:13 Adverse Impacts to Business

15:38 Cashflow

15:55 Liquidity and Access to Capital

20:30 Location and Nature of Business

21:06 Industry

21:40 Workforce

23:52 Risk Tolerance Loan Forgiveness

24:50 New guidance and examples.

 

39:40 Unemployment application. Date of application and reapplying.

40:30 EIDL Loans: Out of funds, currently not recieving applications, using the funds.


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