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WEBINAR: You Have a PPP Loan, Now What?
April 28, 2020 @ 10:00 am - 11:00 am
The Center is proud to partner on this webinar with group-buying partner Goldin Group!
Time to breathe a bit easier, right? The eight-week reprieve is in hand, and now you can rest secure in the knowledge that your business will make it through the second quarter…
Well, not so fast – this is most definitely NOT the time to rest. To the contrary, this is the time to develop your plan for what to do with the loan money, and more importantly, what to do after the loan money runs out eight weeks from now.
In this webinar we will highlight considerations to maximize the forgiveness amount, understand what factor may decrease the forgiveness amount and as importantly begin planning for future cash needs.
Get the answers to:
• What will business conditions look like in eight weeks? Will your business still be impacted or shuttered?
• Should you re-hire all, some or none of the employees you laid off?
• Should you bring furloughed staff back on active payroll?
• Should you reinstate salaries that you reduced? And do you need to bring them back up to 100% or can you raise them incrementally?
• If you decide to only activate some of the furloughed or laid off employees, which ones do you bring back and how do you do that while staying compliant with the many labor laws?
• After the eight weeks, will you have to turn right around and lay off/furlough the same people you just brought back on board?
• Is 100% forgiveness of the loan the right goal?
• What happens if you don’t hit the 75% payroll costs threshold?
• If you carry some of the PPP loan proceeds over into a 2-year note at 1%, how much should you try to carry over and what do you use it for? Furthermore, what’s your ability to repay that money?
This webinar is FREE to attend, but prior registration is required.