OBA's Zoom Meeting
It is my understanding that banks can participate in the PPP program as well.
Any clarification on whether 1099 reported payments are included within payroll for purposes of determining the loan amount?
We are not currently a SBA Lender. What process must we follow to participate in PPP Loans.
Above is the link to the SBA's 750 form.
John Day, OKC
Regarding the "100%" SBA guaranty, what is the risk that the SBA denies the guaranty based on a technicality?
John Day, OKC
Do we need an SBA Packager for the PPP?
The Act seems to say that we will not be paid by Treasury until after the forgiveness period. Are you saying that we will get the money up front?
Can you explain the debt forgiveness of the debt and there is also a section that discusses a decline in the SBA guaranty to 85% and then to 75%.
Are banks or financial institutions eligible to be a recipient of the PPP program as well?
Will the PPP applications be filed through the SBA Online Portal and be given an Approval Number once filed?
Jerry, it is my understanding that a financial institution is eligible for the program.
Are seasonal and part time employees included?
the mics have been unmuted for questions. you may mute yourself if you wish
Is there any type of farming operation that would qualify for the PPP program?
Since the SBA is waiving their fee's is their any monthly back office reporting required on these loans like with other 7A and Express Loans
discuss the decline in the SBA guaranty percentage after 2020.
Is there a gross revenue limit on the business to apply for a PPP?
What documentation will be required to prove that the funds were used correctly to receive debt forgiveness?
Under PPP, Can you apply for more than 2.5X those particualr costs? knowing only 2.5X is eligible to be turned into a grant?
Treatment of interest during the covered period and prior to forgiveness/reimbursement?
Is there a maximum asset size for businesses that apply for the PPP loan?
if employees have been laid off can they be rehired since funds have been made available
Apparently the Treasury changed their mind late last night and banks aren't eligible for the PPP.
Are the PPP loans fixed at 4% for the entire 10 years?
Do MRB's qualify for this program?
My understanding is MRB’s are not eligible.