During this free one-hour interactive webinar, Mountain BizWorks Coach Mike Ames will provide an overview of the rules surrounding the Small Business Administration’s PPP program and walk you through 8 Guidelines for PPP Forgiveness that can help your business maximize the forgivable portion of your loan, before opening the webinar for questions.
In the meantime, as a PPP loan borrower, there are two very important things you must do to avoid trouble and maximize your forgiveness amount under this program. First, your business MUST use at least 60% of your loan proceeds for eligible payroll costs. And you must make sure that your PPP loan proceeds are only spent on items from the very specific list of eligible uses for funds. Failure to meet these guidelines will certainly reduce your potential forgiveness, AND could even create penalties including fines or criminal charges if the use is determined to be fraudulent. Get a deep dive on these two key things and 6 more guidelines, as well as lots of helpful tips and tricks in this webinar!
Prior to the webinar, we recommend reading MBW’s Guide to Maximizing Your PPP Forgiveness, which contains the latest information and examples to help you better understand the program, consider strategies to optimize your results, and answer common questions.
PPP is a very new program, created extraordinarily quickly by the Federal Government to respond to the COVID-19 crisis and its impact on employment. We are still getting frequent clarifications, new rules and guidance from the Small Business Administration and Department of the Treasury. As the program is refined we will continue to update the guide and make the most recent version available at our COVID-19 Funding Help Center website page.
Mike Ames supports clients with their business model, strategy & performance optimization – by working with what you have, filling in the gaps, proactively & creatively exploring what could be. Mike has 35 years in management and the last 15 years working in various startup companies and communities. His 10 years at The Coca-Cola Co., and Michigan MBA ‘92 position him to be a great guide to map out your entrepreneurial journey.
Please sign up below, space is limited!