COVID-19 Update: NBOA & Venable FAQs Webinar, Part III: PPP Fund Compliance

(From NBOA) The third webinar in NBOA and Venable LLP’s series on COVID-19 focused on schools’ eligibility for the PPP program, good faith certification, compliance with nondiscrimination laws and loan forgiveness among other topics.The panel included Jennifer Osland Hillen, NBOA's vice president for professional development and business affairs, who spoke with Venable LLP partners Grace H. Lee, Caryn G. Pass and Janice P. Gregerson.

 Presenters also answered a variety of questions from attendees, including:

• Should schools still be taking these loans in light of reputational risks?
• Does new guidance from the Treasury and SBA, issued April 23, impact independent schools applying for PPP loans?
• For schools that have already completed their application or received funds, is it too late to produce written documentation?
• When does the compliance period start and end for nondiscrimination loans, and how should schools prepare for compliance?
• What considerations should schools take when reviewing loan documents?

NBOA members can view the full presentation "COVID-19: Your Questions Answered," in the NBOA Library.

Find all COVID-19 Resources for the Independent School Business office here.