SBA Payroll Protection Program Webinar
On behalf of Vision Long Island and the Main Street Alliance, in association with the Nassau Council of Chambers of Commerce, LI African American Chamber of Commerce and the LI Hispanic Chamber of Commerce we would like to invite you to join a:
“SBA PPP Update &
New Rules for Loan Forgiveness
Tuesday, June 9th, at 3 pm
|Our featured Speaker & Presenter:||Introduction by:|
Neil Seiden, Managing Director
Andrew Saluk, Business Loan Officer
Good news for small businesses who have not yet applied for the SBA Payroll Protection Program:
The President has signed a bill into law that will give PPP recipients more latitude in how they spend funds received through the program.
The new law extends the amount of time borrowers have to use PPP funds from 8 weeks to 24. It also extends the deadline to rehire laid-off and furloughed employees and still qualify for loan forgiveness from June 30 to December 31. Additionally, it reduces the amount of PPP money that must be spent on payroll and expenses for the loan to be forgiven completely, from 75% to 60%. And finally, it gives borrowers five years to repay the loan instead of 2.
During this session we will discuss the PPP loan process, new legislation that will allow for an increase in the amount of loan forgiveness, the types of businesses that can apply and more…
NOTE: THAT THERE IS STILL $100 BILLION left in the program but it will go fast with these new more flexible rules in place. If your bank did not process your application you still may be eligible for funding!
So apply ASAP and join us on Tuesday at 3pm.
Please Register at the following link: https://www.eventbrite.com/e/ppp-loans-forgiven-informational-webinar-this-tuesday-registration-108558695982