Overview
Now that businesses have been approved for loans through the Paycheck Protection Program (PPP), what are the considerations you must be aware of as a PPP borrower to remain compliant and correctly calculate forgiveness?
Join McDermott’s virtual conference on Monday, April 20 and learn how to properly calculate loan forgiveness and avoid improper uses of proceeds.
This 60-minute session will address the issues on everyone’s minds, including:
- Practical tips for maintaining funds in a segregated account, detailed records of use of funds and rehiring and termination implications
- Allowable and forgivable uses for loan proceeds
- Loan forgiveness terms, including determining the amount of forgiveness, strategies to maximize loan forgiveness, the process for obtaining forgiveness and ramifications of requesting and obtaining forgiveness
- How the loans interplay with your existing credit facilities
- Other considerations, including repayment on a change of control and the ability to get other government relief
Space is limited; reserve your spot today. We want to ensure we address the issues of most importance to our participants, and we encourage you to submit your questions for the panel in advance.
