Robert Katz Gives ABL Advisor a PPP Update
June 16, 2020
Robert Katz, Managing Director in EisnerAmper’s Financial Advisory Services Group, was interviewed by ABL Advisor on the latest information regarding the Paycheck Protection Program (“PPP”). He shared his extensive expertise with Michael Toglia, publisher at ABL Advisor, on the benefits and potential risks for borrowers. The pair marveled at how this program has gone from being nonexistent just a few months ago to distributing trillions of dollars to at-need organizations. Robert and Michael also reviewed how smaller, regional banks may have been better prepared and more nimble to distribute these loans—via established relationships and client service—thereby leveraging significant opportunities.
The duo covered frequently asked questions regarding the PPP, particularly how companies need to show a fiscal need for these loans which, if they cannot, could result in severe penalties. Furthermore, these companies must show that they are spending the stimulus funds per PPP guidelines. Robert stressed that the PPP loans are meant for companies in dire circumstances that will be unable to make their payrolls due to the ongoing COVID-19 pandemic. Check out the complete interview here.