Start Thinking About PPP Loan Forgiveness

Many of ASA’s members obtained Paycheck Protection Program (PPP) Loans.  Now is the time to start thinking about what you need in order to obtain loan forgiveness, so you do not have to pay the loan back.

If you didn’t get the loan and you are eligible, then please apply now, before it is too late – you can find more details, here.

Forgiveness

One of the most attractive features of the PPP Loan program is that borrowers who spend the money on the intended expenses can get some or all of the loan forgiven.  The intended expenses are:

  • payroll
  • rent
  • mortgage interest and
  • utilities

But to secure forgiveness, you’ll need to submit the rights forms with the right supporting documentation.

See Our Video for More Guidance

ASA just finished a webinar on the process for obtaining loan forgiveness. It explains what forms need to be completed and provides tips on how to complete them.  It also details the supporting documentation that the government requires you to file in order to secure loan forgiveness.

The webinar is available on-demand, here.  Even if you haven’t yet hit the point of loan forgiveness, it is worthwhile to understand the requirements for loan forgiveness, so that you can take the right steps to maximize your forgiveness potential.

About Jason Dickstein
Mr. Dickstein is the President of the Washington Aviation Group, a Washington, DC-based aviation law firm. Since 1992, he has represented aviation trade associations and businesses that include aircraft and aircraft parts manufacturers, distributors, and repair stations, as well as both commercial and private operators. Blog content published by Mr. Dickstein is not legal advice; and may not reflect all possible fact patterns. Readers should exercise care when applying information from blog articles to their own fact patterns.

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