SVA-Latest Update on Paycheck Protection Program Flexibility Act

The U.S. Senate passed the House version of Paycheck Protection Program (PPP) legislation on June 3, 2020, tripling the time allotted for small businesses and other PPP loan recipients to spend the funds and still qualify for forgiveness of the loans.

Our next webinar will cover the main points of the new legislation including:

• The increase from 8 weeks to 24 weeks for PPP borrowers

• The payroll expenditure drops from 75% to 60%

• The new exceptions to achieve full PPP loan forgiveness

• Extension from 2 years to 5 years to repay the loan

Presented by:

• Eric Trost, Principal, SVA Certified Public Accountants

• Dan Glomski, Principal, SVA Certified Public Accountants

• Nancy Mehlberg, Principal, SVA Certified Public Accountants