PPP Issues: Disclosure Forms and the Impact of PPP Loans on Transactions
November 24, 2020
10:00 – 11:00 am
Webinar Recording
Presenter Bios
Disclosure Forms and the Impact of PPP Loans on Transactions Powerpoint Slides
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Join Herbein for a joint webinar with Fox Rothschild on the Disclosure Forms and the Impact of PPP Loans on Transactions on November 24 at 10am.
Questions continue to surround the forgiveness aspect of Paycheck Protection Program (PPP) loans – the $659 billion program administered by the Small Business Administration (SBA) aimed at COVID-19 related job retention for U.S. small businesses. Almost 70 percent of the 5.2 million loans issued were loans under $50,000 and on October 8, 2020, the SBA released a simplified loan application for these borrowers. Less than one percent of PPP loans were for loans over $2 million, but they accounted for more than 14% of distributed funds. On October 26, the SBA announced the process it will use for this group of borrowers to evaluate good-faith certifications made on their original loan applications. This webinar will address key issues facing those companies which received over $2 million in loans.
Regardless of loan size, there is a significant impact on any company which received PPP loans. This webinar will address key issues and decisions facing buyers and sellers when a PPP loan of any size is on the seller’s side.
Topic 1: Disclosure Forms
Banks will be providing disclosure forms to PPP loan recipients for ultimate submission to the SBA for loan forgiveness consideration. Loan recipients will be required to demonstrate economic uncertainty and the need for loan. Attendees will gain insight into the following:
Topic 2: Impact on Transactions
Entities that have received any amount of PPP loans will face unique issues if they are currently in the process of being acquired or merged into another company. Depending on the structure of the deal, the outstanding loan needs to be addressed. Attendees will gain insight into the following:
Presenters
David A. Peritz I Senior Manager, Herbein + Company, Inc. I daperitz@herbein.com
Tyler M. Smith I Partner, Fox Rothschild I tmsmith@foxrothschild.com
HOST: Jack Kolmansberger I Chief Marketing Officer I jmkolmansberger@herbein.com
Please note that the registration list will be shared with all presenters