Have you taken a PPP Loan? Are you concerned about the next steps? Are you worried about forgiveness? Unsure how to properly track your money? Do you have questions about who is liable for loan forgiveness? About who is making the decisions for forgiveness? Are you wondering if local banks are still accepting loan applications?
There is an undeniable impact that COVID-19 has had on businesses nationwide, leaving companies with difficult financial choices. Businesses all over have taken a hit from COVID-19, and small businesses are at the top of the list.
Amidst the tragedy our world is facing, The Coronavirus Aid, Relief and Economic Security Act passed the Paycheck Protection Program in efforts to aid small businesses in supporting specific expenses, including employee payroll. As of last week, April 27th, the Small Business Administration had reported over 2.2 million approved loans for small businesses- totaling to over $175 billion. Over 70% of small businesses have applied for the PPP Loan, and as our world continues to face many unknowns, the number of applications is continuing to rise.
As a small business ourselves, who focuses on providing IT services to local small and medium sized businesses- we continue to hear our community of business peers, clients, partners, friends and family facing difficult financial choices as implications of COVID-19.
In hopes of walking alongside our community, The IT Company will be hosting a free, live webinar focusing on PPP forgiveness and how to properly manage and track your money during this time.
Thursday May 7th, at 12:00 P.M., IT Company CEO, Paul Sponcia, will be moderating an one hour panel on PPP forgiveness. We have invited two local industry experts Chris Trump and Adam Slack, to share their legal and accounting perspectives on the topic. Join us as we discuss the most recent update on PPP forgiveness and ways you can keep up on financial records and account for loan forgiveness.
Christopher Trump is a shareholder of the law firm of Egerton, McAfee, Armistead & Davis, P.C. Chris has nearly 20 years of experience representing borrowers and lenders in commercial and mortgage loan transactions, including loans guaranteed by the U.S. Small Business Administration. Chris also serves as outside general counsel to a variety of small-to-medium-sized businesses in the region. While joining Paul Sponcia, Chris will provide the audience with his expertise as he speaks to the latest , updated PPP guidance, and how it pertains to you.
Adam Slack is the President of Two Roads, an outsourced bookkeeping firm that handles all the accounting for start ups to enterprise level companies. They take the pain out of accounting by handling all of the day to day needs a company has related to accounting. Adam’s financial knowledge and expertise will aim to inform viewers on proper ways to keep up records and account for loan forgiveness.
Join Paul Sponcia, Chris Trump and Adam Slack this Thursday as we discuss PPP Forgiveness. We will have a brief Q&A session at the end of the session- but to ensure we provide you with the most beneficial after registering, please submit your specific questions regarding this topic, here.
If you are like many businesses facing steps of the PPP Loan and loan forgiveness, you do not want to miss this webinar!