Navigating PPP Loan Forgiveness: Frequently Asked Questions
On April 24, Herbein + Company, Inc. (Herbein) hosted a Navigating PPP Loan Forgiveness webinar.
The Paycheck Protection Program (PPP) component of the Coronavirus Aid, Relief, and Economic Security (CARES) Act has a major employment stabilization goal. Its primary purpose is to provide loans to help businesses with the resources they need to maintain payroll, hire back employees who may be laid off, and cover applicable overhead during the COVID-19 pandemic. This document contains a listing of frequently asked questions related to PPP loan forgiveness.
As our professionals emphasized during the live event, the Small Business Administration (SBA) and U.S. Treasury are expected to release more clarification on the loan forgiveness aspects of the Paycheck Protection Program (PPP) in the coming days and weeks. This document is current through May 1, 2020. Please speak with your advisor before acting on any information contained in this document.