Paycheck Protection Plan and Maximizing Loan Forgiveness

People Lease is proud to offer this presentation titled PPP Loans: What You Need To Know. If you have any questions on the material covered in this presentation contact us online or call us at 601-987-3025

HubSpot Video

Intro (0:00 – 1:20) - Pat Cleary, President and CEO of NAPEO (National Association of Professional Employer Organization) shares ways to maximize your PEO’s expertise during this time.

Agenda (1:22) - Presented by Seth Perretta and Malcolm Slee of Groom Law Group

  • PPP Overview
  • PPP Forgiveness Process
  • PPPFA (Paycheck Protection Program Flexibility Act)
  • New forms and SBA/Treasury
  • “Don’t forgets” – Important tips and reminders

Overview of PPP (3:56) – Enacted as part of the CARES Act, PPP provides low-interest loans to certain qualifying small businesses for paying eligible payroll and non-payroll costs.

Loan Forgiveness (5:39) – This section discusses partial and entire loan forgiveness, where loan converts into a grant. It also covers the CARES Act requirements to maintain headcount and the penalties if employees are laid off or salaries/wages are cut.

New EZ Form (16:31) – Designed to reduce the burden and time spent completing loan forgiveness application. This section explains which borrowers are eligible to use the EZ form.

Don’t Forget (18:45) – These are helpful reminders borrowers should consider as they move forward with forgiveness loan applications.

People Lease is a top ranked PEO in Mississippi. For over 35 years clients have counted on our team of experts to manage all or part of their HR functions including payroll and tax administration, benefits management, workers’ compensation, and more. We know it is challenging to adjust your business model during COVID-19. Please leverage our team’s expertise. Give us a call at 601-987-3025.

Topics: PPP CARES Act

People Lease

Written by People Lease

People Lease has helped free countless business owners and managers from the never-ending back office fire fighting associated with employee administration. By obtaining payroll preparation, tax filing, workers’ comp, health insurance and retirement plan administration from People Lease, businesses can begin reallocating valuable time and manpower, while more effectively managing cash flow and improving employees’ job satisfaction.

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