COVID-19 Paycheck Program Protection Regulations Updates

Thursday, May 28, 2020

On Thursday, May 28th we discussed the latest Paycheck Protection Program regulations on how borrowers can seek forgiveness for payroll costs, loan forgiveness caps, salary/wages and commission payments for furloughed employees, non-payroll costs and more.

Stay tuned for our next webinar as we plan to do a step-by-step walkthrough on the forgiveness application.

Register for full COVID-19 webinar series: https://bit.ly/koontz-covid19

Download the presentation: PPP Regulation Updates Webinar | May 28th 


2:25 When do I need to submit the PPP loan forgiveness application? How should I prepare?

7:20 PPP Loan Updates Agenda.

8:19 Payroll forgiveness cost.

10:10 Payroll forgiveness costs examples.

10:57 I'm not on a bi-weekly payroll or traditional payroll, how will my payroll be foregiven?

13:08 Furloughed Employees: Salary, Wages or Commission Payments to Furloughed Employees and Bonuses.

14:34 Loan forgiveness caps.

21:10 Alternate payroll period clarification.

22:17 Forgivable non-payroll costs.

25:46 Calculation and clarification of full-time employee.

30:00 Calculating full-time employees head count and reduction of full-time employment.

34:15 A reduction in employee's salary or wages in excess of 25%.

38:10 How do you round up or down full-time equivalent employees?

41:03 Safe harbor exemptions & exceptions to reductions.

48:22 SBA Review of eligibility, use of proceeds and forgiveness.

53:40 FAQs 60/40 Owners vs 50/50 owners compensation, self-employment and showing usage of funds.

 


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