As reported, the new law extends the period for forgiveness from eight weeks to 24 weeks. Whether floorplan deductibility is an eligible expense remains an open question as NADA continues to await guidance from the SBA, but since the forgiveness period has been expanded to 24 weeks that question may be less important as it once was.
NADA’s Andy Koblenz and Doug Greenhaus will review the PPP Flexibility Act and make reference to key rules and guidance from the SBA and Treasury with a special focus on loan forgiveness application materials. Time will be allotted to address questions from webinar participants. This webinar is designed for dealers, dealership managers, controllers, CPAs, and lawyers.
KADA will continue to provide updates on critical legislative and regulatory measures as they become available. They will also be posted on www.kansasdealers.org.