PPP Loan Forgiveness Tools to Enhance Your Ability to Obtain Forgiveness
Originally presented: June 23, 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.
Companies unaccustomed to federal oversight and enforcement must consider their compliance with PPP terms and interpretations or risk facing allegations of fraud and losing the ability to obtain loan forgiveness.
This webinar addressed:
- An understanding of key risk issues and risk mitigants for borrowers related to the PPP, and the various federal and state level CARES Act fraud enforcement mechanisms
- Solutions to insulate your organization from liability during the pre-application and post-application periods and to enhance your enterprise’s positioning to obtain PPP loan forgiveness
- An understanding of risk transfer strategies, solutions and risk transfer devices including an understanding of your D&O insurance coverage and its potential limitations.
Presenters: Anthony S. DiSandro, 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; Daniel J. Sobol, Shareholder, Stevens & Lee; Michael V. Broda, Griffin Stevens & Lee Government Consulting, LLC