PPP Loan Forgiveness Webinars Help Businesses, Lenders During COVID-19 Pandemic

IDFPR Announces Partnership with Small Business Administration

The Illinois Department of Financial and Professional Regulation (IDFPR)has announced that recordings of two webinars hosted Thursday to help businesses and lenders with the federal Paycheck Protection Program (PPP) Loan Forgiveness Applications are available to anyone who missed the sessions but may still require assistance.

Hosted in partnership with the U.S. Small Business Administration (SBA), the first webinar focused on businesses and the steps they need to take to complete their loan forgiveness applications. The second webinar, for lenders, detailed the process in how those loan forgiveness applications should be reviewed.

The Paycheck Protection Program (PPP) is a forgivable, small business loan program administrated by the SBA. The program is designed to assist small businesses impacted by the COVID-19 Pandemic to keep their workers on the payroll.

Over $125 billion in PPP funds are still available. Eligible small businesses include sole proprietorships, independent contractors, and the self-employed.

The webinar for businesses may be watched here.

The webinar for lenders may be watched here.

Additional resources from the SBA regarding PPP may also be found here or by visiting one of the 35 SBA resource partners in Illinois.