What’s Next for PPP Funds?

Many businesses are struggling now more than ever, and many are focusing on how to repay loans or apply for forgiveness. Navigating the complexity of the CARES ACT and SBA loan opportunities has proven a challenge. 

In a webinar hosted by LBMC, Waller attorneys Leigh Griffith and Dustin Timblin joined Pinnacle Bank and LBMC in a discussion regarding what's next for PPP funds and recipients. 

As Leigh expressed regarding certificate of need applications and forgiveness, “Assuming you’ve tried to do the right thing and have decent records, it’s going to come down to your reasonable need application at the beginning. Look at the time it was made, where the stock market was, the world panic; look back at the intent. What did you do, what can you prove you did, and what can you document? What objective things can you give to show how you viewed the world?”

Dustin advised business owners, “Always consult with your advisers before making any substantial decisions, and be flexible. Some questions just aren’t going to be answered, so be comfortable as a business leader to use informed good faith in making decisions for your organization.”

To read the full recap article from Nashville Business Journal, go here.