Payment Protection Payment (PPP) Update and the EZ Application for Forgiveness

Tuesday, June 23, 2020

Marina Parkin (Koontz & Parkin, CPAs) and Jackie Durham (Koontz & Associates, PL) discuss the new EZ forgiveness application, regulation updates for forgiveness, choosing your loan cover period and whether you should apply before the deadline.

1:47 Introducing the EZ application for PPP forgiveness.

2:42 Three requirements for when to use the EZ application.

8:32 Regulation updates for forgiveness of loan.

11:15 Understanding the 24-week cover period option vs 8-week option.

14:53 Should I stick with my 8-week loan period or go to 24-week loan period?

22:37 Safe harbor exemptions.

29:14 PPP loan still available for application. Should you apply?

32:00 EIDL loan still available for application.

34:45 Interest on loans PPP and EIDL loans.

35:53 Should you apply for EIDL?

36:23 Forgiveness applications - Supply and retain documentation.

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