PPP Loan Forgiveness Tools for Ensuring Compliance with Lender Obligations During Forgiveness

Originally presented: June 25, 2020

Summary: In response to the COVID-19 global health crisis, U.S. Congress passed the Coronavirus Aid, Relief, and Economic Security (CARES) Act, which included among its provisions the Paycheck Protection Program (PPP). The CARES Act temporarily permits the U.S. Small Business Administration (SBA) to guarantee 100 percent of 7(a) loans under the PPP and provides for forgiveness of up to the full principal amount of qualifying loans guaranteed under the PPP.

In this briefing designed exclusively for lenders that disburse PPP funds, you will become familiar with critically significant PPP program risk and the tools to manage the risk.

This webinar addressed:

  • Various federal and state level CARES Act fraud enforcement mechanisms applicable to bank and non-bank lenders
  • Best practices and tools for insulating your organization from liability for borrower fraud during the pre-application and post-application periods, including the loan forgiveness process
  • Risk transfer devices and D&O insurance coverage

Presenters: Sunjeet S. Gill, Shareholder, Stevens & Lee; Geoffrey R. Johnson, Senior of Counsel, Stevens & Lee; Kenneth M. Maher, Pinnacle Risk Services, Inc.; Frank A. Mayer, III, Of Counsel, Stevens & Lee; Michael V. Broda, Griffin Stevens & Lee Government Consulting, LLC, Jordan S. Winick, Senior Vice President, Griffin Financial Group