When


Wednesday, June 10, 2020
3:00 to 4:00 PM

Cost


Manufacturing Works Members: Free!
Non-Members: $10

Register

Questions


Rick Dawson
216.920.1960

The Paycheck Protection Program (PPP) loan program, passed under the CARES legislation, provided the ability of loan forgiveness if certain criteria were met. In mid-May, the SBA provided guidance on loan forgiveness to assist borrowers. However, the delay in issuing this guidance and a slowdown in operations concerned borrowers, as they feared they might be unable to maximize their PPP loan forgiveness.

On June 5, 2020, the President signed the Paycheck Protection Program Flexibility Act of 2020 into law and now that it has been enacted, there are several key features to pay attention to. These changes should be welcome news to most borrowers who applied for a PPP loan.

Please join Ray Lampner and Dan Leffler of Sikich LLP as they breakdown the changes you need to know about. Some key highlights to be covered include:

  • How long the PPPFA extends the forgiveness "covered period" and why that matters
  • Changes in loan term limits and loan dates
  • Changes in FTE requirements and calculations
  • Changes to the "75/25 Rule"

Our Presenters

Ray Lampner, CPA, ABV, CVA, CFF, CGMA, CEPA, has more than 20 years of experience in consulting, taxation and advisory services. He specializes in valuation, exit, succession, tax and legacy/estate planning. He offers expertise in consulting, strategy and implementation with mergers and acquisitions, bank financing, growing businesses and exit planning for privately-held companies. Ray has notable experience in the manufacturing, distribution, construction, real estate and professional practice sectors.

Dan Leffler, CPA, ABV, CM&AA, is a senior manager of the firm’s entrepreneurial services team. He has more than nine years of experience serving clients with entrepreneurial and international tax services, with a concentration in mergers and acquisitions. Dan assists businesses with traditional M&A assistance, financial advisory solutions and exit planning. His industry concentration is primarily with manufacturing/distribution, construction, and professional services.

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