Skip to Content



Webinar: Latest on the Paycheck Protection Program for ESOP companies

Date:
Friday, April 17, 2020; 8-9:15 a.m. PDT
Register Now
Looking for more guidance on the Paycheck Protection Program (PPP)? Join us as we present alongside the Beyster Institute and Polsinelli to discuss the current understanding of PPP as it relates to ESOP companies.

A downtown street view with buildings on the left and right with very historical architecture. The CARES Act includes the Paycheck Protection Program (PPP) for small businesses to receive loans through banks administered by the Small Business Administration (SBA) of up to $10 million. The Act has been passed with lightning speed which is leading to frustration for ESOP companies applying for the loans because of so many unanswered questions with this new law and process. Guidance is being issued daily by all parties including the SBA, banks and the ESOP associations. Our panel of experts will discuss the current understanding of PPP as it relates to ESOP companies.

Speaking topics

  • "Eligible small businesses" is broader than just companies with 500 or fewer employees
  • ESOP-owned companies are eligible
  • What is the payroll cost for determining the eligible loan amount? What amount of the ESOP contribution is included?
  • What amount of the ESOP contribution is included for loan forgiveness?
  • A review of the loan application process
  • What other relief programs are affected if the company receives a PPP loan?

Speakers

  • Sandy Shoemaker, partner, Plante Moran 
  • Bob Grossman, shareholder, Polsinelli

Related Thinking

April 8, 2020

Paycheck Protection Program provides forgivable SBA loans

Article 8 min read
April 1, 2020

The tax implications of the CARES Act

Webinar 75 min watch
March 27, 2020

Enactment of CARES Act

Article 16 min read