On February 10, 2021 WBC hosted the PPP Update and Small Business Guidance webinar. The webinar was presented by William Foote and Chris Vasquez of Aronson LLC. This session covered the ins and outs of Paycheck Protection Program (PPP) loan forgiveness and other important information for our industry. The PPP is a loan designed to provide a direct incentive for small businesses to keep their workers on payroll. First Draw PPP Loans could be used to help fund payroll costs, including benefits, and could also be used to pay for mortgage interest, rent, utilities, worker protection costs related to COVID-19, and certain supplier costs and expenses for operations. SBA, in consultation with the U.S. Treasury Department, reopened the Paycheck Protection Program for First Draw Loans the week of January 11, 2021.
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