Future-proof | A Podcast For Tomorrow's Accounting & Finance Pros

95. Understanding the Paycheck Protection Program | with Erik Asgeirsson and Tom Hood

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Synopsis

This week we’re talking about the Paycheck Protection Program. A provision of the CARES Act — the massive coronavirus relief bill that was signed into law on March 27 — the PPP is a loan that’s designed to be an incentive for small businesses to keep their workers on the payroll.We know some of our listeners may be applying for it, and if you are, you probably have a few questions. So we sat down for a conversation with two people who can help put this all into proper context. Erik Asgeirsson is the president and CEO of CPA.com, the technology arm of the American Institute of CPAs, and he is going to give us some perspective on the massive and almost unprecedented legislative undertaking to get this bill passed, as well as recommendations for the types of documents that lenders are looking for under various circumstances during the loan application process. And Tom Hood, the president and CEO of the Maryland Institute of CPAs and the Business Learning Institute, is going to talk a bit about the role that CPAs