Understanding the COVID-19 Payroll Protection Program (PPP) and the Process for Small Business to Apply for Loan
Monday, April 27
1:30 p.m. to 2:30 p.m.
The coronavirus pandemic continues to create unprecedented challenges for employers across Pennsylvania and the nation. Based on the number of significant legislative and policy changes occurring on both the state and federal level, the Pennsylvania Chamber Educational Foundation and the Pennsylvania Bankers Association are presenting a free 1 hour webinar as a public service to review the recently enacted Payroll Protection Program (PPP), and the process banks follow to provide loans to small businesses, as well as tips for small business to apply for the loans.
We are pleased to present Clem Rosenberger, President and CEO for NexTier Bank & Federal Policy Committee Chair, PA Bankers to present an update on the Payroll Protection Plan (PPP), explain the requirements for business to qualify, and present best practices for small business to follow when applying for the loans.
Then PA Chamber President and CEO Gene Barr, and PA Bankers President and CEO Duncan Campbell will provide a brief coronavirus update and the latest developments for Pennsylvania employers and banks.
We will cover:
- A review of the Payroll Protection Program (PPP) elements and what this means for business
- Who is qualified to receive a loan under the PPP
- What process most banks follow to determine how the loans are administered
- The process small businesses or non-profit should follow to apply for the loan
- The minimal requirements to be eligible
- How loan forgiveness is defined
- Best practices for compliance
- Latest update on COVID-19 for PA employers
The speakers will open up the last few minutes of the webinar to answer questions from participants.