By Bayla Cohen, Marketing and Communications Intern, Boston Univerity
Thousands of large and small businesses across the region and across industries received Paycheck Protection Program (PPP) loans offered under the CARES Act. Now, these PPP loan recipients are seeking information about obtaining forgiveness for their loans, essentially converting the loan into a grant.
To view a recording of the webinar, which includes detailed information about how to apply, CLICK HERE. A password is required to view this recording, please use: JfbxH#e6
To provide assistance with the forgiveness process, the Worcester Regional Chamber of Commerce held a webinar, sponsored by Fallon Health and BankHometown, on July 28, 2020. Ili Spahiu, the lead lender relations specialist at the U.S Small Business Administration, and the Assistant Director of the Massachusetts District Office, presented essential information about how to apply for PPP loans and answered many attendee questions.
The online portals for applying for forgiveness will be available starting on August 10 on the SBA website.
The PPP loan program has preserved 51.1 million jobs across the country, with 1.1 million of the jobs in Massachusetts alone. The program has assisted upwards of 84 percent of all small business employees with 256,703 businesses having been helped locally.
Fortunately, earning forgiveness on a loan from the PPP “couldn’t be an easier process,” according to Spahiu. In fact, “75 percent of PPP recipients will qualify for forgiveness,” he continued. The short application to apply is only two pages long.
To view the slides used in the presentation, CLICK HERE.
To view a recording of the webinar, which includes detailed information about how to apply, CLICK HERE. A password is required to view this recording, please use: JfbxH#e6
To view questions that were not asked or answered during the webinar, please CLICK HERE.
