JULY 15 -- Archived recording available. In early April 2020, franchised vehicle dealerships began applying for (PPP) loans to keep their employees on payroll during the COVID-19-related economic downturn. SBA’s data suggests that some 15,000 dealerships received a PPP loan. Having spent most (or all) of their loan proceeds, PPP borrowers are now focused on applying to have their loans “forgiven.” “Forgiveness” is the process by which PPP loans can effectively be turned into grants.
Moderated by NADA Chief Regulatory Counsel Doug Greenhaus, this webinar starts with a review of key statutory, regulatory and other guidance on loan forgiveness. Presenters Daniel Thompson and Jay Goldman, CPAs with the firm Boyer & Ritter, then focused on the issues involved with applying for and maximizing loan forgiveness. The webinar is designed for dealers, key managers and the outside advisors who are assisting dealer-borrowers with their PPP loans. Watch the webinar