The Treasury Department has launched its relief loan program for small businesses being hurt by the COVID-19 pandemic. But how can advisors tap into the $349 billion of available assistance in the complex Paycheck Protection Program?
Register now online and tune in at 2 p.m. EST on Wednesday, April 8, to hear from two in-the-know industry sources about the application process and other details during our free ThinkAdvisor webcast:
- Jeffrey Levine, lead “financial planning nerd” for Kitces.com, and director of advanced planning for Buckingham Wealth Partners; and
- Jamie Hopkins, director of retirement research at Carson Group; managing director of Carson Coaching; and finance professor of Practice at Creighton University’s Heider School of Business.
The two tax and retirement planning specialists will discuss topics such as when and how you should apply for the loans, what types of payroll and other costs qualify for the program and how banks are handling the flood of applications.
As the program’s interim rules explain (in Section 2m): “Is the PPP ‘first-come, first-served?’ Yes.”
Also, PPP loans generally do not involve fees and are six months deferred; with 18 months of principal and interest payments, their maturity totals two years.