The good news is that Bloomberg ranked Utah first in the nation for SBA loans awarded as a percent of eligible payroll at 97.5% meaning those eligible have been receiving those loans.
Utah Bankers have processed 47,046 loans totaling $5.5 billion in PPP funds to Utah businesses. Now the conversation has turned to PPP loan forgiveness and several questions arise. Businesses need to start working on loan forgiveness and that process to maximize the amount of these loans that can be forgiven. Some of the questions we will cover are:
What is the update from Congress with changing the 75% rule and extending the 8-week period to 24-weeks?
What is the timeline of forgiveness? What happens if my request is denied?
How do I apply for forgiveness? What documentation do I need to demonstrate?
What is my audit risk with the SBA on loan amount, usage and forgiveness?
How do I navigate the difference between my EIDL advance and PPP loan to ensure forgiveness?
The Salt Lake Chamber invites you to join us for the Utah Leads Together: PPP Loan Forgiveness webinar on June 3, 2020 at 10:00 a.m.
Utah Leads Together Webinar:
PPP Loan Forgiveness
Wednesday, June 3, 2020
10:00 a.m. – 11:00 a.m.
Senator Mitt Romney
Scott Anderson, president and CEO, Zions Bank
Susan Speirs, president, Utah Association of Certified Public Accountants
Howard Headlee, president, Utah Bankers Association (Moderator)