Not only has lending for Paycheck Protection Program (PPP) loans been reauthorized through March 31, but certain PPP requirements have been revised. Credit union compliance staff will learn about the changes during a January 27 webinar, “PPP Reboot: What New and Existing Borrowers Need to Know About the New Stimulus Package.”
Free to CUNA members, the webinar will take place from 11 a.m. to 12:30 p.m. (ET). Attorney Christopher Pippett, a partner with Fox Rothschild LLP, will highlight various provisions of the Economic Aid to Hard-Hit Small Businesses, Nonprofits and Venues Act (signed into law December 27) that expand the permitted and potentially forgivable uses of PPP loan proceeds.
"There were revisions made to the Paycheck Protection Program in the new Economic Aid Act,” said Jared Ihrig, chief compliance officer at CUNA. “Compliance, lending and finance officials will not want to miss this webinar.”
The Economic Aid Act reauthorizes lending under the PPP through March 31, 2021, modifies provisions related to making PPP loans and forgiveness of PPP loans, and authorizes second-draw PPP loans under new section 7(a)(37) of the Small Business Act.
To register for the webinar, visit cuna.org/shop.