Virtual Learning Lab: PPP & EIDL Loan Update for Small Business

Description

Learn about the latest information on the Small Business Administration's COVID-19 relief programs, including the next round of PPP loans, the simplified forgiveness process, and key issues relating to PPP and EIDL relief.

Some features of the new legislation include:

• Ensures tax deductibility for business expenses paid with forgiven PPP loans;
• Repeals the requirement that borrowers deduct the amount of any Economic Injury Disaster Loan (EIDL) advances from their PPP forgiveness amount; and
• Extends Troubled Debt Restructurings (TDRs) through January 1, 2022.

Key Takeaways:

1. PPP 2 application and forgiveness guidelines
2. EIDL Loan/EIDL Advance updates
3. Updated information on other Small Business Relief programs

Speakers:

C. Seth Wilson Attorney Bowles Rice	Frank Goldsborough Business Coach WV Small Business Development Center
Seth is a partner at Bowles Rice who practices in the areas of commercial business, tax and estate planning, and energy and real estate development. He is admitted to practice in West Virginia and Pennsylvania and divides his time between the firm's offices in Morgantown and Southpointe.	Frank is the Business Coach for the Morgantown Center of the WV Small Business Development Center and is hosted locally by the Morgantown Area Partnership.
Bowles Rice is a full-service regional law firm with offices in Charleston, Martinsburg, Morgantown, Parkersburg and Wheeling, West Virginia; Southpointe, Pennsylvania; and Winchester, Virginia. The firm celebrated its 100th anniversary in 2020.	The WV SBDC is a statewide network of business coaches offering one on one coaching, training, and technical assistance to small businesses. Coaches help clients clarify goals, develop skills, and acquire resources to run a successful enterprise.