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Not-for-Profits: A Paycheck Protection Program Loan Forgiveness Update (Virtual)
June 30, 2020 @ 11:00 am - 12:00 pm Eastern
The ongoing series of updates to the Paycheck Protection Program kicked off earlier this month with the SBA’s passage of the Paycheck Protection Program Flexibility Act of 2020. The Flexibility Act
- extended the coverage period for PPP loans to cover costs from 8 to 24 weeks
- lengthened the time that not-for-profits and other businesses have to rehire employees
- increased the amount of non-payroll costs eligible for forgiveness, and
- extended the amount of time to repay the loans from 2 to 5 years
Additionally, among other changes, the SBA released updated applications for loans and loan forgiveness, and released a new EZ application for self-employed borrowers, those without employees, and others who meet certain requirements.
In this environment of constant change, CBM Board Chair Pat Drolet and Senior Vice President Judy Barnhard have scheduled a virtual update on Tuesday, June 30, from 11 am to 12 pm, on Paycheck Protection Program loan forgiveness to bring not-for-profits up to speed on recent developments.
Due to technical difficulties, a recording for this event is unavailable.
If you’d like a copy of the presentation slides, please contact the firm’s marketing director, Joe Kovacs, by clicking here.