Webinar: Paycheck Protection Program – SBA Assessing Necessity of PPP Loans and Other Forgiveness Concerns|
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For certain PPP borrowers, whether their loans were ever economically necessary will be determined by the SBA. Other borrowers seeking forgiveness may receive a determination that less is forgivable than anticipated. What should borrowers facing these issues do?
Watch SGR partners John Spillman and Steve O’Day, Chris Williamson, Senior Manager and Justin Elanjian, Assurance Services Partner of Aprio, as they discuss the PPP Forgiveness Process, as well as appealing SBA determinations on forgiveness.
Disclaimer for services provided relative to SBA programs and the CARES Act
Aprio’s goal is to provide the most up to date information, along with our insights and current understanding of these programs and regulations to help you navigate your business response to COVID-19.
The rules regarding SBA programs are constantly being refined and clarified by the SBA and other agencies In certain instances, the guidance being provided by the agencies and/or the financial institutions is in direct conflict with other competing guidance, regulations and/or existing laws.
Due to the evolving nature of the situation and the lack of final published rules, Aprio cannot guarantee that additional changes or updates won’t be needed or forthcoming and the original advice given by Aprio may be affected by the evolving nature of the situation.
You need to evaluate and draw your own conclusions and determine your Company’s best approach relative to participation within these programs based on your Company’s specific circumstances, cash flow forecast and business strategy.
In situations where resources are provided by third parties, those services should be covered under a separate agreement directly with that service provider. Aprio is not responsible for the actions of any other third party.
Aprio encourages you to contact your legal counsel to address the legal implications of the impact of the CARES Act and specifically your participation in any of the SBA programs.