Our most recent webinar hosted on June 24 featured PBO Advisory Group’s Francesca San Diego and Scott Palka providing an update on the Payroll Protection Plan loan forgiveness. (Please note – The information in this article is current as of June 16, 2020.)
Changes made to the PPP provide more flexibility for using loan funds and extend the deadline for spending those funds – which is good news for businesses that received these loans.
To date, 4.7 million loans have been made, with the average being $110,000. If your business has not yet applied or received a PPP loan, it’s not too late. There is still approximately $100 billion available in the fund though applications must be received by June 20, 2020. In California, 550,800 loans have been made, with the average being nearly $121,000.
View the full recording here
https://attendee.gotowebinar.com/recording/4687729749933221135